Intraday Scalping Trading System with Alerts# Flexible Buy/Sell Signals Source - Clean Labels & Volume Ranks Buy/Sell Only
**Description:**
This multi-featured indicator combines robust buy/sell signals from multiple popular sources with advanced volume labeling to highlight institutional activity and market momentum shifts.
## Key Features
- **Multi-Source Signal Options:**
Choose from EMA1/EMA2 crossover, EMA2/EMA3 crossover, price vs VWAP, or price vs SuperTrend for flexible signal generation matching diverse trading styles.
- **Clean Buy/Sell Labels:**
Displays clear buy and sell labels directly on the chart with customizable size, color, and offset to enhance entry/exit clarity.
- **Intraday Volume Ranking:**
Highlights the highest and 2nd highest volume bars of the day with bullish/bearish color-coded labels and vertical connection lines, aiding in identifying strong participation.
- **First Candle Range Visualization:**
Visualizes today’s first candle range on your preferred timeframe to help gauge initial market structure and early momentum.
- **VWAP & SuperTrend Integration:**
Optional plots for VWAP and SuperTrend lines add enhanced trend context and support decision making.
- **Previous OHLC Levels:**
Displays prior day, week, and month open, high, low, and close levels as lines and labels—vital reference points for support and resistance.
- **Highly Customizable:**
Each component includes toggle inputs for on/off control, allowing you to declutter and tailor the chart display to your preference.
- **Built-In Alerts:**
Includes alert conditions on buy and sell signals to enhance trading responsiveness.
## How to Use
1. Select the preferred buy/sell signal source from the dropdown input.
2. Enable and customize volume labels to identify key institutional volume candles.
3. Use first candle range, VWAP, and SuperTrend overlays optionally for confirmation.
4. Leverage prior OHLC levels for advanced support/resistance context.
5. Adjust label size, color, and positions for optimal visibility.
## Ideal For
Day traders, swing traders, and analysts seeking a clean, powerful toolkit to combine price action, institutional volume, and multiple indicator signals into actionable insights.
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Trade responsibly and combine with your own analysis for best results.
Komut dosyalarını "bear" için ara
ZTCRYPTOLAB - Oscillator MatrixZTCRYPTOLAB – Oscillator Matrix is a momentum and market-strength oscillator designed to help traders identify overbought/oversold conditions, divergences, and potential reversal points with enhanced visual clarity.
🔹 Core Logic
This oscillator blends multiple momentum measures into a single framework:
RSI (Relative Strength Index) for directional momentum.
MFI (Money Flow Index) with dual fast/slow lengths for flow balance.
Stochastic smoothing for short-term acceleration.
These are normalized, transformed, and combined into two smoothed signal lines (fast vs. slow average) that form the backbone of the oscillator.
🔹 Visual Components
Histogram (Money Flow Cloud): Displays directional flow. As price pushes further into overbought/oversold zones, the histogram cloud brightens in intensity, making strong conditions stand out.
Signal Lines: Two smoothed oscillator curves, with crossovers and relative position highlighting momentum shifts.
Reversal Dots: Circles appear when the oscillator detects exhaustion in OB/OS territory, giving early reversal signals.
Status Line Bands: A confluence score (0–3) plots colored bands at the top/bottom of the panel, showing the current strength of bullish or bearish conditions.
🔹 Divergence Engine
The script includes a custom divergence detector that compares oscillator pivots with price pivots:
Regular divergences highlight momentum weakening against price extremes.
Hidden divergences signal continuation potential when momentum recovers faster than price.
The engine applies strict pivot distance rules and checks for line-cross violations, which reduces noise and false signals.
🔹 Take-Profit Signals
TP markers appear when the oscillator forms exhaustion pivots beyond ±50 zones, helping traders spot where momentum may fade after a run.
🔹 Alerts & Automation
All major events can be linked to TradingView alerts, including:
Signal line crossovers
Reversal dots
Divergences (regular + hidden)
Take-profit signals
Confluence score changes
Additionally, a Custom Alert Builder lets traders define multi-step conditions (e.g., “Money Flow cross + Reversal Dot + Divergence”) and trigger alerts only when sequences are met.
🔹 How to Use
Trend Confirmation: Use the histogram and signal lines to confirm market bias.
Reversals: Watch for dots + divergences near extremes.
Exits / Scaling: TP markers and bright clouds highlight when momentum is stretched.
Alerts: Configure the builder to align with your trading plan (scalping, swing, trend-following).
ASH v2 Alert Realtime + % + Δ + VolumeThis indicator is a modified version of Absolute Strength Histogram indicator, there is a real time bull vs bear dominance ration for every candle
A Physicist's Bitcoin Trading Strategy
1. Summary
This strategy and indicator were designed for, and intended to be used to guide trading activity in, crypto markets, particularly Bitcoin. This strategy uses a custom indicator to determine the state of the market (bullish vs bearish) and allocates funds accordingly. This particular variation also uses the custom indicator to determine when the market is significantly oversold and takes advantage of the opportunity (it buys the dip). The specific mathematical formula that is used to calculate the underlying custom indicator allows the trader to get in before, or near the start of, the bull trends, and get out before the bear trends. The strategy's properties dialogue box includes many display settings and parameters for optimization and customization to meet the user's needs and risk tolerance; this is both a tool to gauge the market, as well as a trading strategy to beat the market. Guidelines for parameter settings are provided. A sample dataset of backtest results using randomized parameters, both within the guidelines and outside the guidelines, is available upon request; notably, all trials outperformed the intended market (Bitcoin) during the 9-year backtest period.
2. The Indicator and Strategy
2.1. The Indicator
A mathematical formula is used to determine the state of the market according to three different "frequencies", which, for lack of better terminology, are called fast, moderate, and slow indicators. There are two parameters for each of the three indicators, one called response time and the other is a simple look-back period. Finally, four exponential moving averages are used to smooth each indicator. In total, there are 18 different levels of bullishness/bearishness. The purpose of using three indicators, rather than one, is to capture the full character of the market, from a macro/global scope down to a micro/local scope. I.e. the full indicator looks at the forest, the trees, and the branches, simultaneously.
2.2. The Strategy
The trend-trading strategy is very simple; there are only four types of orders: 1) The entire position (e.g. all bitcoins held) is sold (if it hasn't already been totally sold) when the indicator becomes maximally bearish, 2) When the movement of the indicator is in the bullish direction, the strategy dollar-cost-average (DCA) buys at an exponentially decreasing rate, i.e. it buys more in the early stages of the transition from bear->bull. 3) When the indicator is maximally bullish, it goes "all-in" † (if it hasn't already gone all-in), i.e. it converts all available cash into the underlying security/token. And, 4) when the movement of the indicator is in the bearish direction, the strategy DCA sells (again, exponentially decreasing) to get out quickly. No leverage is used in this strategy. The strategy never takes a short position.
A second "buy-the-dip" strategy is also used, and it is the synergy of these two strategies, together, that is responsible for most of the outperformance in the backtests (this strategy handily beats the non-dip-buying variation in backtests). To do this, the custom indicator is used to determine when the market is significantly oversold on a short-term basis, and the strategy responds by DCA buying. However, unlike the DCA buying during bull/bear transitions, the buy-the-dip DCA buying increases with time. Specifically, within each candle that is short-term oversold, the strategy converts 10% x # of candles since becoming oversold (up to a max of 6 candles) of available cash into the underlying security/token. I.e. the first buy is 10% of available cash and occurs in the first oversold candle, the second buy is 20% of available cash and occurs in the second oversold candle, etc. up to six consecutive oversold candles. Lastly, to ensure no conflicting orders and no leverage (buying more than what is affordable with the available cash in the fund), buy-the-dip orders take precedence over the trend-trading orders enumerated in the previous paragraph.
† Technically the strategy goes 99.5% in when it goes "all-in". This is to ensure no leverage is used given that there may be a commission of 0.5%.
3. Backtest Results
Backtest results demonstrate significant outperformance over buy-and-hold. The default parameters of the strategy/indicator have been set by the author to achieve maximum (or, close to maximum) outperformance on backtests executed on the BTCUSD (Bitcoin) chart. However, significant outperformance over buy-and-hold is still easily achievable using non-default parameters. Basically, as long as the parameters are set to adequately capture the full character of the market, significant outperformance on backtests is achievable and is quite easy. In fact, after some experimentation, it seems as if underperformance hardly achievable and requires deliberately setting the parameters illogically (e.g. setting one parameter of the slow indicator faster than the fast indicator). In the interest of providing a quality product to the user, suggestions and guidelines for parameter settings are provided in section (6). Finally, some metrics of the strategy's outperformance on the BTCUSD chart are listed below, both for the default (optimal) parameters as well as for a random sample of parameter settings that adhere to the guidelines set forth in section (6).
Using the default parameters, relative to buy-and-hold strategy, backtested from August 2011 to August 2020,
Total cumulative outperformance (total return of strategy minus total return of buy-n-hold): 13,000,000%.
Rolling 1-year outperformance: mean 318%, median 84%, 1st quartile 55%, 3rd quartile, 430%.
Rolling 1-month outperformance: mean 2.8% (annualized, 39%), median -2.1%, 1st quartile -7.7%, 3rd quartile 13.2%, 10th percentile -13.9%, 90th percentile 24.5%.
Using the default parameters, relative to buy-and-hold strategy, during specific periods,
Cumulative outperformance during the past year (August 2019-August 2020): 37%.
12/17/2016 - 12/17/2017 (2017 bull market) absolute performance of 2563% vs buy-n-hold absolute performance of 2385%
11/29/2012 - 11/29/2013 (2013 bull market) absolute performance of 14033% vs buy-n-hold absolute performance of 9247%
Using a random sample (n=20) of combinations of parameter settings that adhere to the guidelines outlined in section (6), relative to buy-and-hold strategy, backtested from August 2011 to August 2020,
Average total cumulative outperformance, from August 2011 to August 2020: 2,000,000%.
Median total cumulative outperformance, from August 2011 to August 2020: 1,000,000%.
4. Limitations
This strategy is basically a DCA-swing trading strategy, and as such it is intended to be used on the 6-hr chart. Similar performance is expected on daily chart, 12-hr chart, and 4-hr chart, but performance is likely to be limited when used on charts of shorter time-frames. However, due to the flexibility afforded by the large quantity of parameters, as well as the tools included, it may be possible to tweak the indicator settings to get some outperformance on smaller time-frames. Admittedly, the author did not spend much time investigating this.
As is apparent in the backtests, this strategy has very limited absolute performance during large bear markets, such as Bitcoin's 2018 bear market. As described, it does outperform the underlying security by a large amount in backtests, but a large absolute return is unlikely during large and prolonged declines (unless, of course, your unit of account is the underlying token, in which case an outperformance of the underlying is, by definition, an absolute positive return).
This strategy is likely to underperform if used to trade ETFs of broad equity markets. This strategy may produce a small amount of outperformance when used to trade precious metals ETFs, given that the parameters are set optimally by the user.
5. Use
The default parameters have already been set for highly optimal backtest results on the chart of BTCUSD (Bitcoin / US Dollar BITSTAMP), (although, a different combination of parameter settings may yet produce better results). Still, there is a great number of combinations that can be explored, so the user is free to tweak the settings to meet his/her/their needs. Some display options are provided to give the user a visual aid while tweaking the parameters. These include a blue/red background display of the custom indicator, a calibration system, and options to display information about the backtest results. The background pattern represents the various levels of bullishness/bearishness as semi-transparent layers of blue and red, with blue corresponding with bullish and red corresponding with bearish.
The parameters that affect the indicator are the response times, the periods, and some EMA lengths. The parameters that affect the quantity of contracts (tokens/shares/bitcoins/etc) to be bought/sold are the transitionary buy/sell rates. There are also two sets of date parameters.
The response time and period parameters are direct inputs into the underlying math formula and are used to create the base-level indicators (fast, moderate, and slow). The response times control the speed of each of the three indicators (shorter is fast, longer is slower) and the period controls how much historical data is used in computation. Information about how these should be set are included in section (6). Another set of parameters control EMA look-back periods that serve to smooth the base-level indicators. Increasing these EMA lengths makes the overall indicator less sensitive to short-term price action, while reducing them does the opposite. The effect of these parameters are obvious when the background blue/red visualization is displayed. Another EMA length is an EMA for the entire indicator. Increasing this parameter reduces the responsiveness of the trading strategy (buy/sell orders) to quick/small changes of the overall level of the indicator, so as to avoid unnecessary buying and selling in times of relatively small and balanced price perturbations. Note, changing this parameter does not have an effect on the overall indicator itself, and thus will not affect the blue/red background representation.
The transitionary buy/sell rates control the portion of the available asset to be converted to the other. E.g. if the buy rate is set to 90%, then 90% of the available cash will be used to buy contracts/tokens/shares/bitcoins during transitions bullish transitions, e.g. if the available cash at the start of the bullish transition is $10,000 and the parameter is set to 90%, then $9,000 will be used to buy in the first candle during which the transition is bullish, then $900 will be used to buy in the second candle, then $90 in the third candle, etc.
There are two dates that can be set. The first is the date at which the strategy goes all in. This is included because the buy-and-hold strategy is the benchmark against which this strategy is compared, so setting this date to some time before the strategy starts to make trades will show, very clearly, the outperformance of the strategy, especially when the initial capital parameter in the Properties tab is equal to the price of one unit of the underlying security on the date that is set, e.g. all-in on Bitcoin on 8/20/2011 and set initial capital to the BTCUSD price on that date, which was $11.70. The second date is a date to control when the strategy can begin to place trades.
Finally (actually, firstly in the Inputs dialogue box), a set of checkbox inputs controls whether or not the backtest is on or off, and what is displayed. The display options are the blue/red (bull/bear) background layers †, a set of calibrators, a plot of the total strategy equity, a plot of the cash position of the strategy, a plot of the size of the position of the strategy in contracts/shares/units (labeled as BTC position), and a plot of the rolling 1-year performances of buy-and-hold and the strategy.
About the calibrators: The calibration system allows the user to quickly assess and calibrate how well the indicator... indicates. Quite simply, the system has two parts: one plot that is the cumulative sum of the product of the indicator level and the change in the underlying price, i.e. sum of ‡, over all candles. The second part is a similar plot that is reduced according to the quickness with which the indicator changes, i.e. sum of . Maximizing the first plot at the expense of the second will cause the indicator to match the price action very well but therefore it will change very rapidly, from bullish to bearish, which is visualized by a background pattern that changes frequently from blue to red to blue. Ignoring the first plot and maximizing the second will also cause the indicator to more closely match the price action, but the transitions will be slower and less frequent, and will therefore focus on identifying the major trends of the market.
† The blue/red background has many layers and will make the chart lag as the user interacts with it.
‡ Bearish states are coded as negative quantities, so a bearish state x negative price action = positive number, and bullish state x positive price action = positive number.
6. Suggestions and Guidelines
As described in section (2.1), the indicator used in this strategy was designed to determine the state of the market--whether it is bullish or bearish--as well as the change in the state of the market--whether it is increasingly bullish or increasingly bearish. As such, the following suggestions are provided based on the principles of the indicator's design,
1. Response Time 1 should be less than (<) Response Time 2 which should be < Response Time 3
2. Fast Period < Moderate Period < Slow Period
3. In terms of the period of a full market cycle (e.g. ~ 4 years for BTC, ~ 5.5 years for equities, etc.), response times 1, 2, and 3 should be about 0.3% to 1%, 3% to 20%, and 20% to 50% of a full market cycle period, respectively. However, this is a loose guideline.
4. In terms of the period of a full market cycle, periods 1, 2, and 3 should all be about 25% to 75% of a full cycle period. Again, this is a loose guideline.
4. EMA 1 Length < EMA 2 Length < EMA 3 Length < EMA 4 Length
5. EMA Lengths 1, 2, 3, and 4 should be limited to about 1/4th the length of a full market cycle. Note, EMA lengths are measured in bars (candles), not in days. 1/4th of 1000 days is 250 days which is 250 x 4 = 1000 6-hr candles.
The following guidelines are provided based on results of over 100 backtests on the BTCUSD chart using randomized parameters †,
1. 9 days < Response Time 1 < 14 days
2. 5 days < EMA 1 Length < 100 days
3. 600 days < EMA 4 length < 1000 days
4. The ratio of the EMA range (EMA 4 len - EMA 1 len) to the sum of EMA lengths (EMA 1 len + EMA 2 len + ...) be greater than 0.4
5. The ratio of the sum of EMA 1 and EMA 2 lengths to the sum of EMA 3 and EMA 4 lengths be less than 0.3.
A suggestion from the author: Given that backtests show a high degree of outperformance using the guidelines enumerated above, a good trading strategy may be to not rely on any one particular combination of parameters. Rather, a random set of combinations of parameter settings that adhere to the guidelines above could be used to create multiple instances of the strategy in a TradingView chart, each of which varies by a small amount due to their unique parameter settings. The proportion of the entire set of strategy instances that agree about the current state of the market could indicate to the trader the level of confidence of the indicator, in aggregate.
† A sample dataset of backtest results using randomized parameters is available upon request; notably, all trials outperformed the intended market (Bitcoin).
7. General Remarks About the Indicator
Other than some exponential moving averages, no traditional technical indicators or technical analysis tools are employed in this strategy. No MACD, no RSI, no CMF, no Bollinger bands, parabolic SARs, Ichimoku clouds, hoosawatsits, XYZs, ABCs, whatarethese. No tea leaves can be found in this strategy, only mathematics. It is in the nature of the underlying math formula, from which the indicator is produced, to quickly identify trend changes.
8. Remarks About Expectations of Future Results and About Backtesting
8.1. In General
As it's been stated in many prospectuses and marketing literature, "past performance is no guarantee of future results." Backtest results are retrospective, and hindsight is 20/20. Therefore, no guarantee can, nor should, be expressed by me or anybody else who is selling a financial product (unless you have a money printer, like the Federal Reserve does).
8.2. Regarding This Strategy
No guarantee of future results using this strategy is expressed by the author, not now nor at any time in the future.
With that written, the author is free to express his own expectations and opinions based on his intimate knowledge of how the indicator works, and the author will take that liberty by writing the following: As described in section (7), this trading strategy does not include any traditional technical indicators or TA tools (other than smoothing EMAs). Instead, this strategy is based on a principle that does not change, it employs a complex indicator that is based on a math formula that does not change, and it places trades based on five simple rules that do not change. And, as described in section (2.1), the indicator is designed to capture the full character of the market, from a macro/global scope down to a micro/local scope. Additionally, as described in section (3), outperformance of the market for which this strategy was intended during backtesting does not depend on luckily setting the parameters "just right." In fact, all random combinations of parameter settings that followed the guidelines outperformed the intended market in backtests. Additionally, no parameters are included within the underlying math formula from which the indicator is produced; it is not as if the formula contains a "5" and future outperformance would depend on that "5" being a "6" instead. And, again as described, it is in the nature of the formula to quickly identify trend changes. Therefore, it is the opinion of the author that the outperformance of this strategy in backtesting is directly attributable to the fundamental nature of the math formula from which the indicator is produced. As such, it is also the opinion of the author that continued outperformance by using this strategy, applied to the crypto (Bitcoin) market, is likely, given that the parameter settings are set reasonably and in accordance with the guidelines. The author does not, however, expect future outperformance of this strategy to match or exceed the outperformance observed in backtests using the default parameters, i.e. it probably won't outperform by anything close to 13,000,000% during the next 9 years.
Additionally, based on the rolling 1-month outperformance data listed in section (3), expectations of short-term outperformance should be kept low; the median 1-month outperformance was -2%, so it's basically a 50/50 chance that any significant outperformance is seen in any given month. The true strength of this strategy is to be out of the market during large, sharp declines and capitalizing on the opportunities presented at the bottom of those declines by buying the dip. Given that such price action does not happen every month, outperformance in the initial months of use is approximately as likely as underperformance.
9. Access
Those who are interested in using this strategy may send a personal message to inquire about how to gain access. Those who are interested in acquiring the sample dataset of backtest results may send a personal message to request a copy of the data.
YinYang TrendTrend Analysis has always been an important aspect of Trading. There are so many important types of Trend Analysis and many times it may be difficult to identify what to use; let alone if an Indicator can/should be used in conjunction with another. For these exact reasons, we decided to make YinYang Trend. It is a Trend Analysis Toolkit which features many New and many Well Known Trend Analysis Indicators. However, everything in there is added specifically for the reason that it may work well in conjunction with the other Indicators prevalent within. You may be wondering, why bother including common Trend Analysis, why not make everything unique? Ideally, we would, however, you need to remember Trend Analysis may be one of the most common forms of charting. Therefore, many other traders may be using similar Trend Analysis either through plotting manually or within other Indicators. This all boils down to Psychology; you are trading against other traders, who may be seeing some of the similar information you are, and therefore, you may likewise want to see this information. What affects their trading decisions may affect yours as well.
Now enough about Trend Analysis, what is within this Indicator, and what does it do? Well, first let’s quickly mention all of its components, then we will, through a Tutorial, discuss each individually and finally how each comes together as a cohesive whole. This Indicator features many aspects:
Bull and Bear Signals
Take Profit Signals
Bull and Bear Zones
Information Tables displaying: (Boom Meter, Bull/Bear Strength, Yin/Yang State)
16 Cipher Signals
Extremes
Pivots
Trend Lines
Custom Bollinger Bands
Boom Meter Bar Colors
True Value Zones
Bar Strength Indexes
Volume Profile
There are many things to cover within our Tutorial so let's get started, chronologically from the list above.
Tutorial:
Bull and Bear Signals:
We’ve zoomed out quite a bit for this example to help give you a broader aspect of how these Bull and Bear signals work. When a signal appears, it is displaying that there may be a large amount of Bullish or Bearish Trend Analysis occurring. These signals will remain in their state of Bull or Bear until there is enough momentum change that they change over. There are a couple Options within the Settings that dictate when/where/why these signals appear, and this example is using their default Settings of ‘Medium’. They are, Purchase Speed and Purchase Strength. Purchase Speed refers to how much Price Movement is needed for a signal to occur and Purchase Strength refers to how many verifications are required for a signal to occur. For instance:
'High' uses 15 verifications to ensure signal strength.
'Medium' uses 10 verifications to ensure signal strength.
'Low' uses 5 verifications to ensure signal strength.
'Very Low' uses 3 verifications to ensure signal strength.
By default it is set to Medium (10 verifications). This means each verification is worth 10%. The verifications used are also relevant to the Purchase Speed; meaning they will be verified faster or slower depending on its speed setting. You may find that Faster Speeds and Lower Verifications may work better on Higher Time Frames; and Slower Speeds and Higher Verifications may work better on Lower Time Frames.
We will demonstrate a few examples as to how the Speed and Strength Settings work, and why it may be beneficial to adjust based on the Time Frame you’re on:
In this example above, we’ve kept the same Time Frame (1 Day), and scope; but we’ve changed Purchase Speed from Medium->Fast and Purchase Strength from Medium-Very Low. As you can see, it now generates quite a few more signals. The Speed and Strength settings that you use will likely be based on your trading style / strategy. Are you someone who likes to stay in trades longer or do you like to swing trade daily? Likewise, how do you go about identifying your Entry / Exit locations; do you start on the 1 Day for confirmation, then move to the 15/5 minute for your entry / exit? How you trade may determine which Speed and Strength settings work right for you. Let's jump to a lower Time Frame now so you can see how it works on the 15/5 minute.
Above is what BTC/USDT looks like on the 15 Minute Time Frame with Purchase Speed and Strength set to Medium. You may note that the signals require a certain amount of movement before they get started. This is normal with Medium and the amount of movement is generally dictated by the Time Frame. You may choose to use Medium on a Lower Time Frame as it may work well, but it may also be best to change it to a little slower.
We are still on the 15 Minute Time Frame here, however we simply changed Purchase Speed from Medium->Slow. As you can see, lots of the signals have been removed. Now signals may ‘hold their ground’ for much longer. It is important to adjust your Purchase Speed and Strength Settings to your Time Frame and personalized trading style accordingly.
Above we have now jumped down to the 5 Minute Time Frame. Our Purchase Speed is Slow and our Purchase Strength is Medium. We can see it looks pretty good, although there is some signal clustering going on in the middle there. If we change our Settings, we may be able to get rid of that.
We have changed our Purchase Speed from Slow->Snail (Slowest it can go) and Purchase Strength from Medium->Very Low (Lowest it can go). Changing it from Slow-Snail helped get rid of the signal clustering. You may be wondering why we lowered the Strength from Medium->Very Low, rather than going from Medium->High. This is a use case scenario and one you’ll need to decide for yourself, but we noticed when we changed the Speed from Slow->Snail that the signal clustering was gone, so then we checked both High and Very Low for Strengths to see which produced the best looking signal locations.
Please remember, you don’t have to use it the exact way we’ve displayed in this Tutorial. It is meant to be used to suit your Trading Style and Strategy. This is why we allow you to modify these settings, rather than just automating the change based on Time Frames. You’ll likely need to play around with it, as you’ll notice different settings may work better on certain pairs and Time Frames than others.
Take Profit Signals:
We’ve reset our Purchase Settings, everything is on defaults right now at Medium. We’ve enabled Take Profit signals. As you can see there are both Take Profit signals for the Bulls and the Bears. These signals are not meant to be used within automation. In fact, none of this indicator is. These signals are meant to show there has been a strong change in momentum, to such an extent that the signal may switch from its current (Bull or Bear) and now may be a good time to Take Profit. Your Take Profit Settings likewise has a Speed and Strength, and you can set them differently than your Purchase Settings. This is in case you want to Take Profit in a different manner than your Purchase Signals. For instance:
In the example above we’ve kept Purchase Strength and Speed at Medium but we changed our Take Profit Speed from Medium->Snail and our Take Profit Strength from medium->Very Low. This greatly reduces the amount of Take Profit signals, and in some cases, none are even produced. This form of Take Profit may act more as a Trailing Take Profit that if it’s not hit, nothing appears.
In this example we have changed our Purchase Speed from Medium->Fast, our Purchase Strength from Medium->Very Low. We’ve also changed our Take Profit Speed from Snail->Medium and kept our Take Profit Strength on Very Low. Now we may get our signals quicker and likewise our Take Profit may be more rare. There are many different ways you can set up your Purchase and Take Profit Settings to fit your Trading Style / Strategy.
Bull and Bear Zones:
We have disabled our Take Profit locations so that you can see the Bull and Bear Zones. These zones change color when the Signals switch. They may represent some strong Support and Resistance locations, but more importantly may be useful for visualizing changes in momentum and consolidation. These zones allow you to see various Moving Averages; and when they start to ‘fold’ (cross) each other you may see changes in momentum. Whereas, when they’re fully stretched out and moving all in the same direction, it can provide insight that the current rally may be strong. There is also the case where they look like they’re ‘twisted’ together. This happens when all of the Moving Averages are very close together and may be a sign of Consolidation. We will go over a few examples of each of these scenarios so you can understand what we’re referring to.
In this example above, there are a few different things happening. First we have the yellow circle, where the final and slowest Moving Average (MA) crossed over and now all of the MA’s that form the zone are Bullish. You can see this in the white circle where there are no MA’s that are crossing each other. Lastly, within the blue circle, we can see how some of the faster MA’s are crossing under each other. This is a bullish momentum change. The Faster moving MA’s will always be the first ones to cross before the Slower ones do. There is a color scheme in place here to represent the Speed of the MA within the Zone. Light blue is the fastest moving Bull color -> Light Green and finally -> Dark Green. Yellow is the fastest moving Bear color -> Orange and finally -> Red / Dark Red within the Zone.
Next we will review a couple different examples of what Consolidation looks like and why it is very important to look out for. Consolidation is when Most, if not All of the MA’s are very tightly ‘twisted’ together. There is very little spacing between almost all of the MA’s in the example above; highlighted by the white circle. Consolidation is important as it may indicate a strong price movement in either direction will occur soon. When the price is consolidating it means it has had very little upwards or downwards movement recently. When this happens for long enough, MA’s may all get very similar in value. This may cause high volatility as the price tries to break out of Consolidation. Let's look at another example.
Above we have two more examples of what Consolidation looks like and how high Volatility may occur after the Consolidation is broken. Please note, not all Consolidation will create high Volatility but it is something you may want to look out for.
Information Tables displaying: (Boom Meter, Bull/Bear Strength, Yin/Yang State):
Information tables are a very important way of displaying information. It contains 3 crucial pieces of information:
Boom Meter
Bull/Bear Strength
Yin/Yang State
Boom Meter is a meter that goes from 0-100% and displays whether the current price is Dumping (0 - 29%), Consolidating (30 - 70%) or Pumping (71 - 100%). The Boom Meter is meant to be a Gauge to how the price is currently fairing. It is composed of ~50 different calculations that all vary different weights to calculate its %. Many of the calculations it uses are likewise used in other things, such as the Bull/Bear Strength, Bull/Bear Zone MA cross’, Yin/Yang State, Market Cipher Signals, RSI, Volume and a few others. The Boom Meter, although not meant to be used solely to make purchase decisions, may give you a good idea of current market conditions considering how many different things it evaluates.
Bull/Bear Strength is relevant to your Purchase Speed and Strength. It displays which state it is currently in, and the % it is within that state. When a % hits 0, is when the state changes. When states change, they always start at 100% initially and will go down at the rate of Purchase Strength (how many verifications are needed). For instance, if your Purchase Strength is set to ‘Medium’ it will move 10% per verification +/-, if it is set to High, it will move 6.67% per verification +/-. Bull/Bear Strength is a good indicator of how well that current state is fairing. For instance if you started a Long when the state changed to Bull and now it is currently at Bull with 20% left, that may be a good indication it is time to get out (obviously refer to other data as well, but it may be a good way to know that the state is 20% away from transitioning to Bear).
Yin/Yang State is the strongest MA cross within our Indicator. It is unique in the sense that it is slow to change, but not so much that it moves slowly. It isn’t as simple as say a Golden/Death Cross (50/200), but it crosses more often and may hold similar weight as it. Yin stands for Negative (Bearish) and Yang stands for Positive (Bullish). The price will always be in either a state of Yin or Yang, and just because it is in one, doesn’t mean the price can’t/won’t move in the opposite direction; it simply means the price may be favoring the state it is in.
16 Cipher Signals:
Cipher Signals are key visuals of MA cross’ that may represent price movement and momentum. It would be too confusing and hard to decipher these MA’s as lines on a chart, and therefore we decided to use signals in the form of symbols instead. There are 12 Standard and 4 Predictive/Confirming Cipher signals. The Standard Cipher signals are composed of 6 Bullish and 6 Bearish (they all have opposites that balance each other out). There can never be 2 of the same signal in a row, as the Bull and Bear cancel each other out and it's always in a state of one or the other. When all 6 Bullish or Bearish signals appear in a row, very closely together, without any of the opposing signals it may represent a strong momentum movement is about to occur.
If you refer to the example above, you’ll see that the 6 Bullish Cipher signals appeared exactly as mentioned above. Shortly after the Green Circle appeared, there was a large spike in price movement in favor of the Bulls. Cipher signals don’t need to appear in a cluster exactly like the white circle in this photo for momentum to occur, but when it does, it may represent volatility more than if it is broken up with opposing signals or spaced out over a longer time span.
Above is an example of the opposite, where all 6 Bearish Cipher signals appeared together without being broken by a Bullish Cipher signal or being too far spaced out. As you can see, even though past it there was a few Bullish signals, they were quickly reversed back to Bearish before a large price movement occurred in favor of the Bears.
In the example above we’ve changed Cipher signals to Predictive and Confirming. Support Crosses (Green +) and Blood Diamonds (Red ♦) are the normal Cipher Signals that appear within the Standard Set. They are the first Cipher Signal that appears and are the most common ones as well. However, just because they are the first, that doesn’t mean they aren’t a powerful Cipher signal. For this reason, there are Predictive and Confirming Cipher signals for these. The Predictive do just that, they appear slightly sooner (if not the same bar) as the regular and the Confirming appear later (1+ bars usually). There will be times that the Predictive appears, but it doesn’t resort to the Regular appearing, or the Regular appears and the Confirming doesn’t. This is normal behavior and also the purpose of them. They are meant to be an indication of IF they may appear soon and IF the regular was indeed a valid signal.
Extremes:
Extremes are MA’s that have a very large length. They are useful for seeing Cross’ and Support and Resistance over a long period of time. However, because they are so long and slow moving, they might not always be relevant. It’s usually advised to turn them on, see if any are close to the current price point, and if they aren’t to turn them off. The main reason being is they stretch out the chart too much if they’re too far away and they also may not be relevant at that point.
When they are close to the price however, they may act as strong Support and Resistance locations as circled in the example above.
Pivots:
Pivots are used to help identify key Support and Resistance locations. They adjust on their own in an attempt to keep their locations as relevant as possible and likewise will adjust when the price pushes their current bounds. They may be useful for seeing when the Price is currently testing their level as this may represent Overbought or Oversold. Keep in mind, just because the price is testing their levels doesn’t mean it will correct; sometimes with high volatility or geopolitical news, movement may continue even if it is exhibiting Overbought or Oversold traits. Pivots may also be useful for seeing how far the price may correct to, giving you a benchmark for potential Take Profit and Stop Loss locations.
Trend Lines:
Trend Lines may be useful for identifying Support and Resistance locations on the Vertical. Trend Lines may form many different patterns, such as Pennants, Channels, Flags and Wedges. These formations may help predict and drive the price in specific directions. Many traders draw or use Indicators to help create Trend Lines to visualize where these formations will be and they may be very useful alone even for identifying possible Support and Resistance locations.
If you refer to the previous example, and now to this example, you’ll notice that the Trend Line that supported it in 2023 was actually created in June 2020 (yellow circle). Trend Lines may be crucial for identifying Support and Resistance locations on the Vertical that may withhold over time.
Custom Bollinger Bands:
Bollinger Bands are used to help see Movement vs Consolidation Zones (When it's wide vs narrow). It's also very useful for seeing where the correction areas may be. Price may bounce between top and bottom of the Bollinger Bands, unless in a pump or dump. The Boom Meter will show you whether it is currently: Dumping, Consolidation or Pumping. If combined with Boom Meter Bar Colors it may be a good indication if it will break the Bollinger Band (go outside of it). The Middle Line of the Bollinger Band (White Line) may be a very strong support / resistance location. If the price closes above or below it, it may be a good indication of the trend changing (it may indicate one of the first stages to a pump or dump). The color of the Bollinger Bands change based on if it is within a Bull or Bear Zone.
What makes this Bollinger Band special is not only that it uses a custom multiplier, but it also incorporates volume to help add weight to the calculation.
Boom Meter Bar Colors:
Boom Meter Bar Colors are a way to see potential Overbought and Oversold locations on a per bar basis. There are 6 different colors within the Boom Meter bar colors. You have:
Overbought and Very Bullish = Dark Green
Overbought and Slightly Bullish = Light Green
Overbought and Slight Bearish = Light Red
Oversold and Very Bearish = Dark Red
Oversold and Slightly Bearish = Orange
Oversold and Slightly Bullish = Light Purple
When there is no Boom Meter Bar Color prevalent there won’t be a color change within the bar at all.
Just because there is a Boom Meter Bar Color change doesn’t mean you should act on it purchase or sell wise, but it may be an indication as to how that bar is fairing in an Overbought / Oversold perspective. Boom Meter Bar Colors are mainly based on RSI but do take in other factors like price movement to determine if it is Overbought or Oversold. When it comes to Boom Meter Bar Color, you should take it as it is, in the sense that it may be useful for seeing how Individual bars are fairing, but also note that there may be things such as:
When there is Very Overbought (Dark Green) or Very Oversold (Dark Red), during massive pump or dumps, it will maintain this color. However, once it has lost ‘some’ momentum it will likely lose this color.
When there has been a massive Pump or Dump, and there is likewise a light purple or light red, this may mean there is a correction or consolidation incoming.
True Value Zones:
True Value zones are our custom way of displaying something that is similar to a Bollinger Band that can likewise twist like an MA cross. The main purpose of it is to display where the price may reside within. Much like a Bollinger Band it has its High and Low within its zone to specify this location. Since it has the ability to cross over and under, it has the ability to specify what it thinks may be a Bullish or Bearish zone. This zone uses its upper level to display what may be a Resistance location and its lower level to display what may be a Support location. These Support and Resistance locations are based on Momentum and will move with the price in an attempt to stay relevant.
You may use these True Values zones as a gauge of if the price is Overbought or Oversold. When the price faces high volatility and moves outside of the True Value Zones, it may face consolidation or likewise a correction to bring it back within these zones. These zones may act as a guideline towards where the price is currently valued at and may belong within.
Bar Strength Indexes:
Bar Strength Indexes are our way of ranking each bar in correlation to the last few. It is based on a few things but is highly influenced on Open/Close/High/Low, Volume and how the price has moved recently. They may attempt to ‘rate’ each bar and how Bullish/Bearish each of these bars are. The Green number under the bar is its Bullish % and the Red number above the bar is its Bearish %. These %’s will always equal 100% when combined together. Bar Strength Indexes may be useful for seeing when either Bullish or Bearish momentum is picking up or when there may be a reversal / consolidation.
These Bar Strength Indexes may allow you to decipher different states. If you refer to the example above, you may notice how based on how the numbers are changing, you may see when it has entered / exited Bullish, Bearish and Consolidation. Likewise, if you refer to the current bar (yellow circle), you can see that the Bullish % has dropped from 93 to 49; this may be signifying that the Bullish movement is losing momentum. You may use these changes in Bar Indexes as a guide to when to enter / end trades.
Volume Profile:
Volume Profile has been something that has been within TradingView for quite some time. It is a very useful way of seeing at what Horizontal Price there has been the most volume. This may be very useful for seeing not only Support and Resistance locations based on Volume, but also seeing where the majority of Limit Orders are placed. Limit Orders are where traders decide they want to either Buy / Sell but have the order placed so the trade won’t happen until the price reaches a certain amount. Either through many orders from many traders, or a single order from a ‘Whale’ (trader with a lot of capital); you may see Support and Resistance at specific Price Points that have large Volume.
Many Volume Profile Indicators feature a breakdown of all the different locations of volume, along with a Point Of Control (POC) line to designate where the most Volume has been. To try and reduce clutter within our already very saturated Toolkit Indicator, we’ve decided to strip our Volume Profile to only display this POC line. This may allow you to see where the crucial Volume Support and Resistance is without all of the clutter.
You may be wondering, well how important is this Volume Profile POC line and how do I go about using it? Aside from it being a gauge towards where Support and Resistance may be within Volume, it may also be useful for identifying good Long/Short locations. If you think of the line as a ‘Battle’ between the Bulls and Bears, they’re both fighting over that line. The Bears are wanting to break through it downwards, and the Bulls are wanting to break through it upwards. When one side has temporarily won this battle, this means they may have more Capital to push the price in their direction. For instance, if both the Bulls and the Bears are fighting over this POC price, that means the Bears think that price is a good spot to sell; however, the Bulls also deem that price to be a good point to buy. If the Bulls were to win this battle, that means the Bears either canceled their orders to reevaluate, or all of their orders have been completed from the Bulls buying them all. What may happen after that is, if the Bulls were able to purchase all of these Limit Sell Orders, then they may still have more Capital left to continue to pressure the price upwards. The same may be true for if the Bears were to win this ‘Battle’.
How to use YinYang Trend as a cohesive whole:
Hopefully you’ve read and understand how each aspect of this Indicator works on its own, as knowing how/what they each do is important to understanding how it is used as a cohesive whole. Due to the fact that this Toolkit of an Indicator displays so much data, you may find it easier to use and understand when you’re zoomed in a little, somewhat like we are in this example above.
If we refer to the example above, you may like us, deduce a few things:
1. The current price may be VERY Overbought. This may be seen by a few different things:
The Boom Meter Bar Colors have been exhibiting a Dark Green color for 6 bars in a row.
The price has continuously been moving the High (red) Pivot Upwards.
Our Boom Meter displays ‘Pumping’ at 100%.
The price broke through a Downward Trend Line that was created in February of 2022 at 45,000 like it was nothing.
The Bar Strength Index hit a Bullish value of 93%.
The Price broke out of the Bollinger Bands and continues to test its upper levels.
The Low is much greater than our fastest moving MA that creates the Purchase Zones.
The Price is vastly outside of the True Value Zone.
The Bar Strength Index of our current bar is 50% bullish, which is a massive decrease from the previous bar of 93%. This may indicate that a correction is coming soon.
2. Since we’ve identified the current price may be VERY Overbought, next we need to identify if/when/to where it may correct to:
We’ve created a new example here to display potential correction areas. There are a few places it has the ability to correct to / within:
The downward Trend Line (red) below the current bar sitting currently at 32,750. This downward Trend Line is at the same price point as the Fastest MA of our Purchase Zone which may provide some decent Support there.
Between two crucial Pivot heights, within a zone of 30,000 to 31,815. This zone has the second fastest MA from the Purchase Zone right near the middle of it at 31,200 which may act as a Support within the Zone. Likewise there is the Bollinger Band Basis which is also resting at 30,000 which may provide a strong Support location here.
If 30,000 fails there may be a correction all the way to the bottom of our True Value Zone and the top of one of our Extremes at 27,850.
If 27,850 fails it may correct all the way to the bottom of our Purchase Zone / lowest of our Extremes at 27,350.
If all of the above fails, it may test our Volume Profile POC of 26,430. If this POC fails, the trend may switch to Bearish and continue further down to lower levels of Support.
The price can always correct more than the prices mentioned above, but considering overall this Indicator is favoring the Bulls, we will tailor this analysis in Favor of the Bullish Momentum maintaining even during this correction. For these reasons, we think the price may correct between the 30,000 and 31,815 zone before continuing upwards and maintaining this Bullish Momentum.
Please note, these correction estimates are just that, they’re estimates. Aside from the fact that the price is very overbought right now and our Bar Strength Index may be declining (bar hasn’t closed yet); the Boom Meter Strength remains at 100%, meaning there may not be much Bearish momentum changes happening yet. We just want to show you how an Preemptive analysis may be done before there are even Bearish Cipher Signals appearing.
Using this Indicator, you may be able to decipher Entry and Exits. In the previous example, we went over how you may use it to see where a correction (Exit / Take Profit) may be and how far this correction may go. In this example above we will be discussing how to identify Entry locations. We will be discussing a Bullish Buy entry but the same rules apply for a Bearish Sell Entry just the opposite with the Cipher Signals.
If you refer to where we circled in white, this is where the Purchase Zones faced Consolidation. When the Purchase Zones all get tight and close together like that, this may represent Volatility and Momentum in either direction may occur soon.
This was then followed by all 6 of the Standard Cipher Signals closely in succession to each other. This means the Momentum may be favoring the Bulls. If this was likewise all 6 of the Bearish Cipher Signals closely in succession, than the momentum change would favor the Bears.
If you were looking for an entry, and you saw Consolidation with the Purchase Zones and then shortly after you saw the Green Circle and Blue Flag (they can swap order); this may now be a good Entry location.
We will conclude this Tutorial here. Hopefully this has taught you how this Trend Analysis Toolkit may help you locate multiple different types of important Support and Resistance locations; as well as possible Entry and Exit locations.
Settings:
1. Bull/Bear Zones:
1.1. Purchase Speed (Bull/Bear Signals and Take Profit Signals):
Speed determines how much price movement is needed for a signal to occur.
'Sonic' uses the extremities to try and get you the best entry and exit points, but is so quick, its speed may reduce accuracy.
'Fast' may attempt to capitalize on price movements to help you get SOME or attempt to lose LITTLE quickly.
'Medium' may attempt to get you the most optimal entry and exit locations, but may miss extremities.
'Slow' may stay in trades until it is clear that momentum has changed.
'Snail' may stay in trades even if momentum has changed. Snail may only change when the price has moved significantly (This may result in BIG gains, but potentially also BIG losses).
1.2. Purchase Strength (Bull/Bear Signals and Take Profit Signals):
Strength ensures a certain amount of verifications required for signals to happen. The more verifications the more accurate that signal is, but it may also change entry and exit points, and you may miss out on some of the extremities. It is highly advised to find the best combination between Speed and Strength for the TimeFrame and Pair you are trading in, as all pairs and TimeFrames move differently.
'High' uses 15 verifications to ensure signal strength.
'Medium' uses 10 verifications to ensure signal strength.
'Low' uses 5 verifications to ensure signal strength.
'Very Low' uses 3 verifications to ensure signal strength.
2. Cipher Signals:
Cipher Signals are very strong EMA and SMA crosses, which may drastically help visualize movement and help you to predict where the price will go. All Symbols have counter opposites that cancel each other out (YinYang). Here is a list, in order of general appearance and strength:
White Cross / Diamond (Predictive): The initial indicator showing trend movement.
Green Cross / Diamond (Regular): Confirms the Predictive and may add a fair bit of strength to trend movement.
Blue Cross / Diamond (Confirming): Confirms the Regular, showing the trend might have some decent momentum now.
Green / Red X: Gives momentum to the current trend direction, possibly confirming the Confirming Cross/Diamond.
Blue / Orange Triangle: may confirm the X, Possible pump / dump of decent size may be coming soon.
Green / Red Circle: EITHER confirms the Triangle and may mean big pump / dump is potentially coming, OR it just hit its peak and signifies a potential reversal correction. PAY ATTENTION!
Green / Red Flag: Oddball that helps confirm trend movements on the short term.
Blue / Yellow Flag: Oddball that helps confirm trend movements on the medium term (Yin / Yang is the long term Oddball).
3. Bull/Bear Signals:
Bear and Bull signals are where the momentum has changed enough based on your Purchase Speed and Strength. They generally represent strong price movement in the direction of the signal, and may be more reliable on higher TimeFrames. Please don’t use JUST these signals for analysis, they are only meant to be a fraction of the important data you are using to make your technical analysis.
4. Take Profit Signals:
Take Profit signals are guidelines that momentum has started to change back and now may be a good time to take profit. Your Take Profit signals are based on your Take Profit Speed and Strength and may be adjusted to fit your trading style.
5. Information Tables:
Information tables display very important data and help to declutter the screen as they are much less intrusive compared to labels. Our Information tables display: Boom Meter, Purchase Strength of Bull/Bear Zones and Yin/Yang State.
Boom Meter: Uses over 50 different calculations to determine if the pair is currently 'Dumping' (0-29%), 'Consolidating' (30-70%), or 'Pumping' (71-100%).
Bull / Bear Strength: Shows the strength of the current Bull / Bear signal from 0-100% (Signals start at 100% and change when they hit 0%). The % it moves up or down is based on your 'Purchase Strength'.
Yin / Yang state: Is one of the strongest EMA/SMA crosses (long term Oddball) within this Indicator and may be a great indication of which way the price is moving. Do keep in mind if the price is consolidating when changing state, it may have the highest chance of switching back also. Once momentum kicks in and there is price movement the state may be confirmed. Refer to other Cipher Symbols, Extremes, Trend, BOLL, Boom %, Bull / Bear % and Bar colors when Bull / Bear Zones are consolidating and Yin / Yang State changes as this is a very strong indecision zone.
6. Bull / Bear Zones:
Our Bull / Bear zones are composed of 8 very important EMA lengths that may act as not only Support and Resistance, but they help to potentially display consolidation and momentum change. You can tell when they are getting tight and close together it may represent consolidation and when they start to flip over on each other it may represent a change in momentum.
7. MA Extremes:
Our MA Extremes may be 3 of the most important long term moving averages. They don’t always play a role in trades as sometimes they’re way off from the price (cause they’re extreme lengths), but when they are around price or they cross under or over each other, it may represent large changes in price are about to occur. They may be very useful for seeing strong resistance / support locations based on price averages. Extremes may transition from a Support to a Resistance based on its position above or below them and how many times the price has either bounced up off them (Supporting) or Bounced back down after hitting them (Resistance).
8. Pivots:
Pivots may be a very important indicator of support and resistance for horizontal price movement. Pivots may represent the current strongest Support and Resistance. When the Pivot changes, it means a new strong Support or Resistance has been created. Sometimes you'll notice the price constantly pushes the pivot during a massive Pump or Dump. This is normal, and may indicate high levels of volatility. This generally also happens when the price is outside of the Bollinger Bands and is also Over or Undervalued. The price usually consolidates for a while after something like this happens before more drastic movement may occur.
9. Trend Lines:
Trend lines may be one of the best indicators of support and resistance for diagonal price movement. When a Trend Line fails to hold it may be a strong indication of a dump. Keep a close eye to where Upward and Downward Trend Lines meet. Trend lines can create different trading formations known as Pennants, Flags and Wedges. Please familiarize yourself with these formations So you know what to look for.
10. Bollinger Bands (BOLL):
Bollinger Bands may be very useful, and ours have been customized so they may be even more accurate by using a modified calculation that also incorporates volume.
Bollinger Bands may be used to see Movement vs Consolidation Zones (When it’s wide vs narrow). It also may be very useful for seeing where the correction areas are likely to be. Price may bounce between top and bottom of the BOLL, unless perhaps in a pump or dump. The Boom Meter may show you whether it is currently: Dumping, Consolidation or Pumping, along with Boom Meter Bar Colors, may be a good indication if it will break the BOLL. The Middle Line of the BOLL (White Line) may be a very strong support / resistance line. If the price closes above or below it, it may be a good indication of the trend changing (it may be one of the first stages to a pump or dump).
11. Boom Meter Bar Colors:
Boom Meter bar colors may be very useful for seeing when the bar is Overbought or Underbought. There are 6 different types of boom meter bar colors, they are:
Dark Green: RSI may be very Overbought and price going UP (May be in a big pump. NOTICE, chance of small dump correction if Cherry Red bar appears).
Light Green: RSI may be slightly Overbought and price going UP (chance of small pump).
Light Purple: RSI may be very Underbought and price going UP (May have chance of small correction).
Dark Red: RSI may be very Underbought and price going DOWN (May be in a big dump. NOTICE, chance of small pump correction if Light Purple bar appears).
Light Orange: RSI may be slightly Underbought and price going DOWN (chance of small dump).
Cherry Red: RSI may be very Overbought and price going DOWN (Chance of small correction).
12. True Value Zone:
True Value Zones display zones that represent ranges to show what the price may truly belong within. They may be very useful for knowing if the Price is currently not valued correctly, which generally means a correction may happen soon. True Value Zones can swap from Bullish to Bearish and are represented by Red for Bearish and Green for Bullish. For example, if the price is ABOVE and OUTSIDE of the True Value Zone, this means it may be very overvalued and might correct to go back inside the True Value Zone. This correction may be done by either dumping in price back into the zone, or consolidating horizontally back into it over a longer period of time. Vice Versa is also true if it is BELOW and OUTSIDE of the True Value Zone.
13. Bar Strength Index:
Bar Strength Index may display how Bullish/Bearish the current bar is. The strength is important to help see if a pump may be losing momentum or vice versa if a dump may correct. Keep in mind, the Bar Strength Index does a small 'refresh' to account for new bars. It may help to keep the Index more accurate.
14. Volume Profile:
Volume Profiles may be important to know where the Horizontal Support/Resistance is in Price base on Volume. Our Volume Profile may identify the point where the most volume has occurred within the most relevant timeframe. Volume Profiles are helpful at identifying where Whales have their orders placed. The reason why they are so helpful at identifying whales is when the volume is profiled to a specific area, there may likely be lots of Limit Buy and/or Sells around there. Limit Buys may act as Support and Limit Sells may act as Resistance. It may be very useful to know where these lie within the price, similar to looking at Order Book Data for Whale locations.
If you have any questions, comments, ideas or concerns please don't hesitate to contact us.
HAPPY TRADING!
Black RSI (Pro Suite)Black RSI (Pro Suite) is combination of RSI (Relative Strength Index), Volume RSI, Heikin Ashi RSI & other multi Oscillators with multi features into one indicator, features like (Quad Divergences, Multi Time Frame RSI, MTF RSI Panel, Oscillator Support/Resistance/Wedges/Trendlines, Oscillator Moving Average/BBs, Smooth RSI, RSI Price Estimator, Oscillator Over bought/sold Bars, Osc OB/OS Zones, Osc OB/OS Highlights, additionally Black RSI indicator is flexible & completely customizable).
Indicator goal: I have tried my best to organized RSI & other suitable oscillators and oscillator useful tools into one simple and free indicator for Tradingview users (specifically for Tradingview 'basic' subscription users). suggestions are always welcome. please give feedback & appreciate if you like my work.
Black RSI Indicator Features Summary:
Black RSI indicator includes many features mainly relevant to RSI and other Oscillators, these are briefly highlighted below:
Black RSI Dashboard
Multi Oscillators: Choose between multiple oscillators. All oscillators settings are customizable.
Multi Symbol: Multi Symbol Support, applicable on all oscillators
RSI (Relative Strength Index)
VRSI (Volume Relative Strength Index)
HA RSI (Heikin Ashi Relative Strength Index)
OBV (On Balance Volume)
CVD (Comulative Volume Delta)
MFI (Money Flow Index)
UO (Ultimate Oscillator)
MOM (Momentum Oscillator)
ATR (Average True Range)
Stoch (Stochastic Oscillator)
Stoch RSI (Stochastic RSI)
Oscillator Primary Tools ◢
Oscillator Moving Average/Bollinger Bands
Smooth RSI
Multi Timeframe RSI
Multi Timeframe RSI Panel
RSI Price Estimator
Oscillator Support/Resistance/Wedges/Trendlines
Oscillator Moving Average/BBs: Shows Moving Average for selected oscillator.
Smooth Smooth: Smooths out RSI
Multi Timeframe RSI: Displays Multiple Time Frame/Multiple Symbol RSI and converts it and shows it as it is in current time frame without effecting Primary RSI
Multi Timeframe RSI Panel: Displays Multiple Time Frame/Multiple Symbol RSI values of user input specific timeframes in compact panel (max 8 Time frames)
RSI Price Estimator: Calculates RSI estimate price values of 3 different user specific RSI input levels, RSI x MA cross price and RSI future value of user specific price input level.
Oscillator Support/Resistance/Wedges/Trendlines: Draws Trendlines, Wedges and Support & Resistance lines on selected oscillator
Oscillator Quad Divergence ◢
1st Oscillator Divergence: Traditional divergence indicator with enhancements & customization
2nd Oscillator Divergence: Traditional divergence indicator with enhancements & customization
3rd Oscillator Divergence: Advanced Divergence indicator with source selection, RSI/Price threshold, potential divergences & customization
4th Oscillator Divergence: Pivots divergence indicator with flexible pivots selection & customization
Regular bullish divergences are indicated when price is forming lower lows while an oscillator shows higher lows.
Regular bearish divergences are indicated when price is forming higher highs while an oscillator shows lower highs.
While regular divergences indicate trend reversals, hidden divergences indicate a trend continuation.
When the price is making higher lows and the oscillator is showing lower lows, we speak of a bullish hidden divergence.
When the price is making lower highs and the oscillator shows higher highs, it's a bearish hidden divergence.
Oscillator Secondary Tools ◢
Oscillator HH/LL pivots
Osc OB/OS Color Bars
Osc OB/OS Zones
Osc OB/OS Highlights
Background
Oscillator HH/LL pivots: Shows HH/LL pivot points on selected oscillator
Osc OB/OS Color Bars: Plots color chart bars based on RSI, MFI, Stochastic, Stochastic RSI or combine overbought/oversold conditions
Osc OB/OS Zones: Plots Osc OB/OS Zones with user input levels
Osc OB/OS Highlights: Highlight oscillator OB/OS background area
Background: background color customization
+ Primary RSI Settings ▾
- Primary RSI Length: User input RSI Length value
- Primary RSI Source: User RSI Source selection
- RSI Overbought Threshold: Allows the user to set the RSI overbought threshold value. This Overbought Threshold value will also be applied on "RSI Divergence overbought condition", "RSI OB Color Bars" and "Primary RSI Color Schemes
- RSI Oversold Threshold: Allows the user to set the RSI oversold threshold value. The lower band (oversold line) of RSI. This Oversold Threshold value will also be applied on "RSI Divergence oversold condition", "RSI OS Color Bars" and "Primary RSI Color Schemes
- RSI Middle Band: Allows the user to set the RSI middle band value. This value will also applied to "Center Line" color scheme from "Primary RSI Color Schemes" drop menu
- Primary RSI Colors:
Range color specifies a gradient of colors from the overbought to the oversold threshold user inputs from "Primary RSI" section. Color interpolation also a gradient but smoother than Range color. Center Line is similar but is not a gradient, linked to Middle Band ("Primary RSI" section) and changes color with RSI Middle Band. Traditional is simple with Overbought and Oversold colors change.
- RSI Bullish Band: Allows the user to plot extra/optional RSI band on RSI Oscillator (Note: it will not be plotted if "OB/OS Zone only" enabled from "OB/OS Zone Settings" section)
- RSI Bearish Band: Allows the user to plot extra/optional RSI band on RSI Oscillator (Note: it will not be plotted if "OB/OS Zone only" enabled from "OB/OS Zone Settings" section)
+ Primary RSI Smooth Settings ▾
- Smooth Moving Average Type: User selected Smooth MA type. With RSI Smooth enabled, will also effect all RSI Divergences detection (all divergences will be plot according to "Smoothed RSI line")
- Smooth Moving Average Length: User input Smooth MA length value
+ Oscillator Moving Average Settings ▾
- Osc Moving Average Colors: Allows user to select Bullish/Bearish colors of Oscillator Moving Average
- Osc Moving Average Type: Allows user to select Oscillator MA Type
- Osc Moving Average Length: User input Oscillator MA length value
- Osc Moving Average Thickness: User input Oscillator MA thickness
- BB StdDev: user input Bollinger Bands standard deviation value
+ Stochastic Oscillator Settings ▾
- Same as Traditional/Default indicator
+ Stochastic RSI Oscillator Settings ▾
- Same as Traditional/Default indicator
+ Money Index Flow Settings ▾
- Same as Traditional/Default indicator
+ Ultimate Oscillator Settings ▾
- Same as Traditional/Default indicator
+ Momentum Oscillator Settings ▾
- Same as Traditional/Default indicator
+ Average True Range Settings ▾
- Same as Traditional/Default indicator
+ Multi Timeframe RSI Settings ▾
- MTF RSI Time Frame: Allows user to select MTF RSI Time Frame
- MTF RSI Symbol: Allows user to select MTF RSI Time Symbol
- MTF RSI Length: User input MTF RSI length value
- MTF RSI Source: User selected MTF RSI source
- MTF RSI Line Width: User input MTF RSI line thickness value
- Number of Bars for MTF RSI plot
- MTF RSI Color > OB color > OS color : Allows user to select MTF RSI color with additionally Overbought/Oversold colors
+ MTF RSI Panel Settings ▾
- Select MTF RSI Type: If "Primary RSI" or "Volume RSI" selected MTF RSI Panel will show output values based on "Primary RSI" or "Volume RSI" parameters e.g. source, length, but without smooth.
- MTF RSI Panel Symbol: Allows user to select MTF RSI Panel symbol, leave symbol blank or uncheck "checkbox" for current chart symbol
- Show Symbol in Panel: Shows symbol ticker(current or user selected) in MTF RSI Panel
- Panel Background: Allows user to select MTF RSI Panel Background (enable/disable) and Background color selection
- TF1: MTF RSI Timeframe 1 user selection
- TF2: MTF RSI Timeframe 2 user selection
- TF3: MTF RSI Timeframe 3 user selection
- TF4: MTF RSI Timeframe 4 user selection
- TF5: MTF RSI Timeframe 5 user selection
- TF6: MTF RSI Timeframe 6 user selection
- TF7: MTF RSI Timeframe 7 user selection
- TF8: MTF RSI Timeframe 8 user selection
- Panel Top Offset: MTF RSI Panel offset input value
- Position: MTF RSI Panel position selection
- Text Size: MTF RSI Panel text size selection
- Bullish Colors: MTF RSI Panel bullish color selection. (Bullish colors range RSI >75, <75 to >65, <65 to >55)
- Bearish Colors: MTF RSI Panel bearish color selection. (Bearish colors range RSI <45 to >35, <35 to >25, <25)
+ RSI Price Estimator Settings ▾
- Price 1: User input value for RSI future price
- Price 2: User input value for RSI future price
- Price 3: User input value for RSI future price
- Panel Position Offset: User input value for panel position offset
- Price Decimals: User input value for output price decimals in panel
- Show RSI/OscMA cross Price: Enable/Disable RSIxOscillator MA cross future price
- Show RSI Level for Input Price: User input price for future RSI level
- Invisible Background: Enable/Disable Background
Auto Text Color > Auto color change of Panel text according to Dark/Light chart theme
+ Oscillator Support/Resistance Settings ▾
- Show Support line: Allows user to Enable/Disable Oscillator support line
Color > Auto Color: Auto color change of support line according to Dark/Light chart theme
- Show Resistance line: Allows user to Enable/Disable Oscillator resistance line
Color > Auto Color: Auto color display of resistance line according to Dark/Light chart theme
- Lookback lows/highs: User input of Lookback lows/highs value
- Distance threshold: Distance from the line to the low
- Line touch points: Number of points that have to be around the line
- Low/High left bars: User input of Low/High left bars value
- Low/High right bars: User input of Low/High right bars value
- Line style: User selection of line style
- Line thickness: User input of line thickness value
+ Oscillator 1st Divergence Settings ▾
- Divergence Source: User selection of divergence source. "High/Low" (high/low of oscillator/price divergence detection), "Close" (close of oscillator/price divergence detection) and "Both" (Both Close + High/Low of oscillator/price divergence detection). (Note: Traditional Divergence indicator default source is "High/Low")
- Pivot Lookback Right: How many candle to compare on the right side of a candle when deciding whether it is a pivot. The lower the number is, the earlier pivots (and therefore divergences) will be signaled, but the quality of those detections could be lower.
- Pivot Lookback Left: How many candle to compare on the left side of a candle when deciding whether it is a pivot. The lower the number is, the earlier pivots (and therefore divergences) will be signaled, but the quality of those detections could be lower.
- Divergence Max Length (Bars): The maximum length of a divergence (number of bars). If a detected divergence is longer than this, it will be discarded
- Divergence Min Length (Bars): The minimum length of a divergence (number of bars). If a detected divergence is shorter than this, it will be discarded
- Show Divergence as:
- Line Thickness: User input divergence line thickness value
- Label Transparency: it could reduce labels mess on oscillator line, input "100" for label text only without label background
- Labels Text Color: User label text color selection
Auto Text Color > Auto color change of label text according to Dark/Light chart theme
- Bull Divergences: Enable/Disable of Bull divergences
> Color: User selection of Bull divergence color
> Oversold only: It will show Regular Bullish RSI divergences in oversold zone only, RSI oversold threshold can be configure in "Primary RSI Settings" section.
- Bear Divergences: Enable/Disable of Bear divergences
> Color: User selection of Bear divergence color
> Overbought only: It will show Regular Bearish RSI divergences in overbought zone only, RSI overbought threshold can be configure in "Primary RSI Settings" section.
- Hidden Bull Div: Enable/Disable of Hidden Bull divergences
> Color: User selection of Hidden Bull divergence color
- Hidden Bear Div: Enable/Disable of Hidden Bear divergences
> Color: User selection of Hidden Bear divergence color
+ Oscillator 2nd Divergence Settings ▾
- Same as Oscillator 1st Divergence Settings
+ Oscillator 3rd Divergence Settings ▾
- Divergence source: User selection of divergence source . "oscillator" (divergence detection with high/low or close of selected oscillator), "price" (divergence detection with high/low or close of price)
- Bull price source: User selection of Bull price source. Bull price source: "Low" (low of price divergence detection), "Close" (close of price divergence detection) (linked to "price" in "Divergence source")
- Bear price source: User selection of Bear price source. Bear price source: "High" (high of price divergence detection), "Close" (close of price divergence detection) (linked to "price" in "Divergence source")
- Low/High left bars: How many candle to compare on the left side of a candle when deciding whether it is a pivot. The lower the number is, the earlier pivots (and therefore divergences) will be signaled, but the quality of those detections could be lower.
- Low/High right bars: How many candle to compare on the right side of a candle when deciding whether it is a pivot. The lower the number is, the earlier pivots (and therefore divergences) will be signaled, but the quality of those detections could be lower.
- Maximum lookback bars: The maximum length of a divergence (number of bars). If a detected divergence is longer than this, it will be discarded.
- Price threshold: User selection of Price threshold, higher values more lines
- RSI threshold: User selection of RSI threshold, higher values more lines
- Show Lows: Displays lows of RSI
- Show Highs: Displays highs of RSI
- Show Divergence as:
- Line Style:
- Line thickness: User input divergence line thickness value
- Label Transparency: it could reduce labels mess on oscillator line, input "100" for label text only without label background
- Labels Text Color: User label text color selection
Auto Text Color > Auto color change of label text according to Dark/Light chart theme
- Bull Divergences: Enable/Disable of Bull divergences
> Color: User selection of Bull divergence color
> Potential Bull: It will plot potential regular bull divergence with dotted line.
- Bear Divergences: Enable/Disable of Bear divergences
> Color: User selection of Bear divergence color
> Potential Bear: It will plot potential regular bear divergence with dotted line.
- Hidden Bull Div: Enable/Disable of Hidden Bull divergences
> Color: User selection of Hidden Bull divergence color
> Potential H.Bull: It will plot potential hidden bull divergence with dotted line.
- Hidden Bear Div: Enable/Disable of Hidden Bear divergences
> Color: User selection of Hidden Bear divergence color
> Hidden Bear divergence: It will plot potential hidden bear divergence with dotted line.
> Regular Bull oversold only: It will show Regular Bullish RSI divergences in oversold zone only, RSI oversold threshold can be configure in "Primary RSI Settings" section.
> Regular Bear overbought only: It will show Regular Bearish RSI divergences in overbought zone only, RSI overbought threshold can be configure in "Primary RSI Settings" section.
+ Oscillator 4th Divergences Settings ▾
- Upper Length: User pivot input value of draw upper divergence line From
- To Pivot:
- Lower Length: User pivot input value of draw lower divergence line From
- To Pivot:
- Show Divergence as:
- Line Style:
- Line thickness: User input divergence line thickness value
- Label Transparency: it could reduce labels mess on oscillator line, input "100" for label text only without label background
- Labels Text Color: User label text color selection
Auto Text Color > Auto color change of label text according to Dark/Light chart theme
- Bull Divergences: Enable/Disable of Bull divergences
> Color: User selection of Bull divergence color
- Bear Divergences: Enable/Disable of Bear divergences
> Color: User selection of Bear divergence color
- Regular Bull oversold only: It will show Regular Bullish RSI divergences in oversold zone only, RSI oversold threshold can be configure in "Primary RSI Settings" section.
- Regular Bear overbought only: It will show Regular Bearish RSI divergences in overbought zone only, RSI overbought threshold can be configure in "Primary RSI Settings" section.
+ Oscillator HHLL Pivots Settings ▾
- Pivot Length: User input value of HH/LL pivot length
> L.Text Color: User label text color selection
- HH color: User HH Label color selection
- HL color: User HL Label color selection
- LH color: User LH Label color selection
- LL color: User LL Label color selection
+ Oscillator OB/OS Colored Bars Settings▾
- Overbought/Oversold Bars Oscillator: Plots Overbought/Oversold color bars based on RSI, MFI, Stoch, Stoch RSI overbought/oversold threshold conditions separately or combined(when every oscillator reach its OB or OS threshold condition at same time).
- Overbought Bar Color: User RSI OB Bars color selection
- Oversold Bar Color: User RSI OS Bars color selection
+ Primary RSI Range Color ▾
- OB: Overbought Color
- OS: Oversold Color
- Bullish: Bullish Color
- Bearish: Bearish Color
+ Primary RSI Color interpolation ▾
- RSI Color: RSI Color
- OB: Overbought Color
- OS: Oversold Color
+ Primary RSI Center Line Color ▾
- OB: Overbought Color
- Bullish: Bullish Color
- Bearish: Bearish Color
- OS: Oversold Color
+ Primary RSI Traditional Color ▾
- RSI Color: RSI Color
- OB: Overbought Color
- OS: Oversold Color
Osc Overbought/Oversold Zones Settings ▾
- OB/OS Zone Band Lines: Enable/Disable OB/OS Zone Band Lines
- OB/OS Zones only: Only shows OB/OS Zones and disable all RSI band lines except Middle Band. Background will not be effected by this setting.
- Overbought Zone: User input value of Overbought Zone from
> To:
- Oversold Zone: User input value of Oversold Zone from
> To:
Osc Overbought/Oversold Highlights ▾
- Overbought Highlights : Enable/Disable Overbought Highlights
- Oversold Highlights : Enable/Disable Oversold Highlights
- Transparency: Gradient transparency of highlighted area
+ 'Oscillators Color Settings ▾
- Show Osc Symbol label : Enable/Disable of oscillator symbol label. Displays current oscillator symbol, but with "Override Oscillator Symbol" enabled from "Black RSI Dashboard" it will Auto/forcefully displays Override Oscillator Symbol on Oscillator
- Fade out Oscillator line: Fade out the oscillator line color, focusing only the most recent periods prominent for a clearer chart
- Fill Stoch/StochRSI lines: Fills Stoch/Stoch RSI lines
- Oscillator line thickness: user input value of oscillator line thickness
- Oscillator line offset: Shifts the oscillator to the left or to the right on the given number of bars, Default is 0
- OBV Color
- MFI Color
- ATR Color
- UO Color
- MOM Color
- CVD Bullish Color
- CVD Bearish Color
+ Background Setting ▾
- Custom Background Color: User selection of Background color
Authors & Credits: I'd like to THANK to Nabeel Black(myself), LonesomeTheBlue, iFuSiiOnzZ, jmosullivan, zdmre, creengrack, and TradingView for the locally sourced ingredients.
Disclaimer: DYOR. Not financial advice. Not a trading system. I am not affiliated with TradingView or any authors mentioned here; You alone have the sole responsibility of evaluating the script output and risks associated with the use of the script. Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely. Always trade with confluence and Risk Management.
Feedback & Bug report
if you found any bug in this indicator or any suggestion, please let me know. Please give feedback & appreciate if you like to see more future updates and indicators. Thank you
wtt volume
This indicator is based on the chapter Progress in Volume Capacity of WTT. The Fundamentals and Advance of Natural Trading Theory.
Progress in volume capacity focuses on the absolute strength or relative strength of the volume capacity of bulls and bears in a single k-bar.
The book grades volume capacity as follows:
Absolute Strength:
Absolute strength of bulls: the bulls win and close, with long lower shadow or long solid body.
Absolute strength of bears: the bears win and close, with long upper shadow or long solid body.
Relative Strength
Relative strength of bulls: long lower shadow much longer than the solid K-bar, even when the bears win; or well-matched solid K-bar and upper shadow when the bulls close.
Relative strength of bears: long upper shadow much longer than the solid K-bar, even when the bulls win; or well-matched solid K-bar and lower shadow when the bears close.
Crosshairs
Frequently found in market shocks or before turning points, to be analyzed on top of the above relative and absolute strength.
This indicator colors the volume by the size of volume capacity, dark colors for the strong, light colors for the weak, and grey crosshairs. This is to make it easier for you to draw the curve of volume capacity and feel the contrast of strength between the bulls and the bears. You may therefore have better timing and position for opening and closing a position. The bull-bear strength comparison reflected by a single k-bar helps you better decide the next move within a very short period, which could be opening a position, coming into the position at low, underweighting, or closing a position.
本指标根据《WTT.自然交易理论基础与进阶》量能精进一章编写。
量能精进关注的，是单个K柱中多空双方量能的绝对强势或相对强势。
该书把量能分为以下几个等级：
绝对强势
多头绝对强势：多头获胜收线，带有长下影线或长实心柱体。
空头绝对强势：空头获胜收线，带有长上影线或长实心柱体。
相对强势
多头相对强势：长下影线相对实心K柱长很多，即使是空头获胜收线；或多头收线时实心K柱与上影线旗鼓相当。
空头相对强势：长上影线相对实心K柱长很多，即使是多头获胜收线；或空头收线时实心K柱与下影线旗鼓相当。
十字线
在震荡行情或出现拐点前出现频率较高，可结合上述相对强势和绝对强势进行综合判断。
本指标根据量能强弱对交易量进行染色，强势为深色，弱势为浅色，灰色为十字线，方便你手绘量能曲线，感受多空量能强弱。能给你提供更优的开平仓时机和点位。通过单个k柱形态反映出来的多空强弱关系，你可以更好地执行下一个极短周期内的操作，可能是开仓，也可能是补仓、减仓或平仓。
Market Zone Analyzer[BullByte]Understanding the Market Zone Analyzer
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1. Purpose of the Indicator
The Market Zone Analyzer is a Pine Script™ (version 6) indicator designed to streamline market analysis on TradingView. Rather than scanning multiple separate tools, it unifies four core dimensions—trend strength, momentum, price action, and market activity—into a single, consolidated view. By doing so, it helps traders:
• Save time by avoiding manual cross-referencing of disparate signals.
• Reduce decision-making errors that can arise from juggling multiple indicators.
• Gain a clear, reliable read on whether the market is in a bullish, bearish, or sideways phase, so they can more confidently decide to enter, exit, or hold a position.
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2. Why a Trader Should Use It
• Unified View: Combines all essential market dimensions into one easy-to-read score and dashboard, eliminating the need to piece together signals manually.
• Adaptability: Automatically adjusts its internal weighting for trend, momentum, and price action based on current volatility. Whether markets are choppy or calm, the indicator remains relevant.
• Ease of Interpretation: Outputs a simple “BULLISH,” “BEARISH,” or “SIDEWAYS” label, supplemented by an intuitive on-chart dashboard and an oscillator plot that visually highlights market direction.
• Reliability Features: Built-in smoothing of the net score and hysteresis logic (requiring consecutive confirmations before flips) minimize false signals during noisy or range-bound phases.
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3. Why These Specific Indicators?
This script relies on a curated set of well-established technical tools, each chosen for its particular strength in measuring one of the four core dimensions:
1. Trend Strength:
• ADX/DMI (Average Directional Index / Directional Movement Index): Measures how strong a trend is, and whether the +DI line is above the –DI line (bullish) or vice versa (bearish).
• Moving Average Slope (Fast MA vs. Slow MA): Compares a shorter-period SMA to a longer-period SMA; if the fast MA sits above the slow MA, it confirms an uptrend, and vice versa for a downtrend.
• Ichimoku Cloud Differential (Senkou A vs. Senkou B): Provides a forward-looking view of trend direction; Senkou A above Senkou B signals bullishness, and the opposite signals bearishness.
2. Momentum:
• Relative Strength Index (RSI): Identifies overbought (above its dynamically calculated upper bound) or oversold (below its lower bound) conditions; changes in RSI often precede price reversals.
• Stochastic %K: Highlights shifts in short-term momentum by comparing closing price to the recent high/low range; values above its upper band signal bullish momentum, below its lower band signal bearish momentum.
• MACD Histogram: Measures the difference between the MACD line and its signal line; a positive histogram indicates upward momentum, a negative histogram indicates downward momentum.
3. Price Action:
• Highest High / Lowest Low (HH/LL) Range: Over a defined lookback period, this captures breakout or breakdown levels. A closing price near the recent highs (with a positive MA slope) yields a bullish score, and near the lows (with a negative MA slope) yields a bearish score.
• Heikin-Ashi Doji Detection: Uses Heikin-Ashi candles to identify indecision or continuation patterns. A small Heikin-Ashi body (doji) relative to recent volatility is scored as neutral; a larger body in the direction of the MA slope is scored bullish or bearish.
• Candle Range Measurement: Compares each candle’s high-low range against its own dynamic band (average range ± standard deviation). Large candles aligning with the prevailing trend score bullish or bearish accordingly; unusually small candles can indicate exhaustion or consolidation.
4. Market Activity:
• Bollinger Bands Width (BBW): Measures the distance between BB upper and lower bands; wide bands indicate high volatility, narrow bands indicate low volatility.
• Average True Range (ATR): Quantifies average price movement (volatility). A sudden spike in ATR suggests a volatile environment, while a contraction suggests calm.
• Keltner Channels Width (KCW): Similar to BBW but uses ATR around an EMA. Provides a second layer of volatility context, confirming or contrasting BBW readings.
• Volume (with Moving Average): Compares current volume to its moving average ± standard deviation. High volume validates strong moves; low volume signals potential lack of conviction.
By combining these tools, the indicator captures trend direction, momentum strength, price-action nuances, and overall market energy, yielding a more balanced and comprehensive assessment than any single tool alone.
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4. What Makes This Indicator Stand Out
• Multi-Dimensional Analysis: Rather than relying on a lone oscillator or moving average crossover, it simultaneously evaluates trend, momentum, price action, and activity.
• Dynamic Weighting: The relative importance of trend, momentum, and price action adjusts automatically based on real-time volatility (Market Activity State). For example, in highly volatile conditions, trend and momentum signals carry more weight; in calm markets, price action signals are prioritized.
• Stability Mechanisms:
• Smoothing: The net score is passed through a short moving average, filtering out noise, especially on lower timeframes.
• Hysteresis: Both Market Activity State and the final bullish/bearish/sideways zone require two consecutive confirmations before flipping, reducing whipsaw.
• Visual Interpretation: A fully customizable on-chart dashboard displays each sub-indicator’s value, regime, score, and comment, all color-coded. The oscillator plot changes color to reflect the current market zone (green for bullish, red for bearish, gray for sideways) and shows horizontal threshold lines at +2, 0, and –2.
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5. Recommended Timeframes
• Short-Term (5 min, 15 min): Day traders and scalpers can benefit from rapid signals, but should enable smoothing (and possibly disable hysteresis) to reduce false whipsaws.
• Medium-Term (1 h, 4 h): Swing traders find a balance between responsiveness and reliability. Less smoothing is required here, and the default parameters (e.g., ADX length = 14, RSI length = 14) perform well.
• Long-Term (Daily, Weekly): Position traders tracking major trends can disable smoothing for immediate raw readings, since higher-timeframe noise is minimal. Adjust lookback lengths (e.g., increase adxLength, rsiLength) if desired for slower signals.
Tip: If you keep smoothing off, stick to timeframes of 1 h or higher to avoid excessive signal “chatter.”
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6. How Scoring Works
A. Individual Indicator Scores
Each sub-indicator is assigned one of three discrete scores:
• +1 if it indicates a bullish condition (e.g., RSI above its dynamically calculated upper bound).
• 0 if it is neutral (e.g., RSI between upper and lower bounds).
• –1 if it indicates a bearish condition (e.g., RSI below its dynamically calculated lower bound).
Examples of individual score assignments:
• ADX/DMI:
• +1 if ADX ≥ adxThreshold and +DI > –DI (strong bullish trend)
• –1 if ADX ≥ adxThreshold and –DI > +DI (strong bearish trend)
• 0 if ADX < adxThreshold (trend strength below threshold)
• RSI:
• +1 if RSI > RSI_upperBound
• –1 if RSI < RSI_lowerBound
• 0 otherwise
• ATR (as part of Market Activity):
• +1 if ATR > (ATR_MA + stdev(ATR))
• –1 if ATR < (ATR_MA – stdev(ATR))
• 0 otherwise
Each of the four main categories shares this same +1/0/–1 logic across their sub-components.
B. Category Scores
Once each sub-indicator reports +1, 0, or –1, these are summed within their categories as follows:
• Trend Score = (ADX score) + (MA slope score) + (Ichimoku differential score)
• Momentum Score = (RSI score) + (Stochastic %K score) + (MACD histogram score)
• Price Action Score = (Highest-High/Lowest-Low score) + (Heikin-Ashi doji score) + (Candle range score)
• Market Activity Raw Score = (BBW score) + (ATR score) + (KC width score) + (Volume score)
Each category’s summed value can range between –3 and +3 (for Trend, Momentum, and Price Action), and between –4 and +4 for Market Activity raw.
C. Market Activity State and Dynamic Weight Adjustments
Rather than contributing directly to the netScore like the other three categories, Market Activity determines how much weight to assign to Trend, Momentum, and Price Action:
1. Compute Market Activity Raw Score by summing BBW, ATR, KCW, and Volume individual scores (each +1/0/–1).
2. Bucket into High, Medium, or Low Activity:
• High if raw Score ≥ 2 (volatile market).
• Low if raw Score ≤ –2 (calm market).
• Medium otherwise.
3. Apply Hysteresis (if enabled): The state only flips after two consecutive bars register the same high/low/medium label.
4. Set Category Weights:
• High Activity: Trend = 50 %, Momentum = 35 %, Price Action = 15 %.
• Low Activity: Trend = 25 %, Momentum = 20 %, Price Action = 55 %.
• Medium Activity: Use the trader’s base weight inputs (e.g., Trend = 40 %, Momentum = 30 %, Price Action = 30 % by default).
D. Calculating the Net Score
5. Normalize Base Weights (so that the sum of Trend + Momentum + Price Action always equals 100 %).
6. Determine Current Weights based on the Market Activity State (High/Medium/Low).
7. Compute Each Category’s Contribution: Multiply (categoryScore) × (currentWeight).
8. Sum Contributions to get the raw netScore (a floating-point value that can exceed ±3 when scores are strong).
9. Smooth the netScore over two bars (if smoothing is enabled) to reduce noise.
10. Apply Hysteresis to the Final Zone:
• If the smoothed netScore ≥ +2, the bar is classified as “Bullish.”
• If the smoothed netScore ≤ –2, the bar is classified as “Bearish.”
• Otherwise, it is “Sideways.”
• To prevent rapid flips, the script requires two consecutive bars in the new zone before officially changing the displayed zone (if hysteresis is on).
E. Thresholds for Zone Classification
• BULLISH: netScore ≥ +2
• BEARISH: netScore ≤ –2
• SIDEWAYS: –2 < netScore < +2
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7. Role of Volatility (Market Activity State) in Scoring
Volatility acts as a dynamic switch that shifts which category carries the most influence:
1. High Activity (Volatile):
• Detected when at least two sub-scores out of BBW, ATR, KCW, and Volume equal +1.
• The script sets Trend weight = 50 % and Momentum weight = 35 %. Price Action weight is minimized at 15 %.
• Rationale: In volatile markets, strong trending moves and momentum surges dominate, so those signals are more reliable than nuanced candle patterns.
2. Low Activity (Calm):
• Detected when at least two sub-scores out of BBW, ATR, KCW, and Volume equal –1.
• The script sets Price Action weight = 55 %, Trend = 25 %, and Momentum = 20 %.
• Rationale: In quiet, sideways markets, subtle price-action signals (breakouts, doji patterns, small-range candles) are often the best early indicators of a new move.
3. Medium Activity (Balanced):
• Raw Score between –1 and +1 from the four volatility metrics.
• Uses whatever base weights the trader has specified (e.g., Trend = 40 %, Momentum = 30 %, Price Action = 30 %).
Because volatility can fluctuate rapidly, the script employs hysteresis on Market Activity State: a new High or Low state must occur on two consecutive bars before weights actually shift. This avoids constant back-and-forth weight changes and provides more stability.
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8. Scoring Example (Hypothetical Scenario)
• Symbol: Bitcoin on a 1-hour chart.
• Market Activity: Raw volatility sub-scores show BBW (+1), ATR (+1), KCW (0), Volume (+1) → Total raw Score = +3 → High Activity.
• Weights Selected: Trend = 50 %, Momentum = 35 %, Price Action = 15 %.
• Trend Signals:
• ADX strong and +DI > –DI → +1
• Fast MA above Slow MA → +1
• Ichimoku Senkou A > Senkou B → +1
→ Trend Score = +3
• Momentum Signals:
• RSI above upper bound → +1
• MACD histogram positive → +1
• Stochastic %K within neutral zone → 0
→ Momentum Score = +2
• Price Action Signals:
• Highest High/Lowest Low check yields 0 (close not near extremes)
• Heikin-Ashi doji reading is neutral → 0
• Candle range slightly above upper bound but trend is strong, so → +1
→ Price Action Score = +1
• Compute Net Score (before smoothing):
• Trend contribution = 3 × 0.50 = 1.50
• Momentum contribution = 2 × 0.35 = 0.70
• Price Action contribution = 1 × 0.15 = 0.15
• Raw netScore = 1.50 + 0.70 + 0.15 = 2.35
• Since 2.35 ≥ +2 and hysteresis is met, the final zone is “Bullish.”
Although the netScore lands at 2.35 (Bullish), smoothing might bring it slightly below 2.00 on the first bar (e.g., 1.90), in which case the script would wait for a second consecutive reading above +2 before officially classifying the zone as Bullish (if hysteresis is enabled).
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9. Correlation Between Categories
The four categories—Trend Strength, Momentum, Price Action, and Market Activity—often reinforce or offset one another. The script takes advantage of these natural correlations:
• Bullish Alignment: If ADX is strong and pointed upward, fast MA is above slow MA, and Ichimoku is positive, that usually coincides with RSI climbing above its upper bound and the MACD histogram turning positive. In such cases, both Trend and Momentum categories generate +1 or +2. Because the Market Activity State is likely High (given the accompanying volatility), Trend and Momentum weights are at their peak, so the netScore quickly crosses into Bullish territory.
• Sideways/Consolidation: During a low-volatility, sideways phase, ADX may fall below its threshold, MAs may flatten, and RSI might hover in the neutral band. However, subtle price-action signals (like a small breakout candle or a Heikin-Ashi candle with a slight bias) can still produce a +1 in the Price Action category. If Market Activity is Low, Price Action’s weight (55 %) can carry enough influence—even if Trend and Momentum are neutral—to push the netScore out of “Sideways” into a mild bullish or bearish bias.
• Opposing Signals: When Trend is bullish but Momentum turns negative (for example, price continues up but RSI rolls over), the two scores can partially cancel. Market Activity may remain Medium, in which case the netScore lingers near zero (Sideways). The trader can then wait for either a clearer momentum shift or a fresh price-action breakout before committing.
By dynamically recognizing these correlations and adjusting weights, the indicator ensures that:
• When Trend and Momentum align (and volatility supports it), the netScore leaps strongly into Bullish or Bearish.
• When Trend is neutral but Price Action shows an early move in a low-volatility environment, Price Action’s extra weight in the Low Activity State can still produce actionable signals.
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10. Market Activity State & Its Role (Detailed)
The Market Activity State is not a direct category score—it is an overarching context setter for how heavily to trust Trend, Momentum, or Price Action. Here’s how it is derived and applied:
1. Calculate Four Volatility Sub-Scores:
• BBW: Compare the current band width to its own moving average ± standard deviation. If BBW > (BBW_MA + stdev), assign +1 (high volatility); if BBW < (BBW_MA × 0.5), assign –1 (low volatility); else 0.
• ATR: Compare ATR to its moving average ± standard deviation. A spike above the upper threshold is +1; a contraction below the lower threshold is –1; otherwise 0.
• KCW: Same logic as ATR but around the KCW mean.
• Volume: Compare current volume to its volume MA ± standard deviation. Above the upper threshold is +1; below the lower threshold is –1; else 0.
2. Sum Sub-Scores → Raw Market Activity Score: Range between –4 and +4.
3. Assign Market Activity State:
• High Activity: Raw Score ≥ +2 (at least two volatility metrics are strongly spiking).
• Low Activity: Raw Score ≤ –2 (at least two metrics signal unusually low volatility or thin volume).
• Medium Activity: Raw Score is between –1 and +1 inclusive.
4. Hysteresis for Stability:
• If hysteresis is enabled, a new state only takes hold after two consecutive bars confirm the same High, Medium, or Low label.
• This prevents the Market Activity State from bouncing around when volatility is on the fence.
5. Set Category Weights Based on Activity State:
• High Activity: Trend = 50 %, Momentum = 35 %, Price Action = 15 %.
• Low Activity: Trend = 25 %, Momentum = 20 %, Price Action = 55 %.
• Medium Activity: Use trader’s base weights (e.g., Trend = 40 %, Momentum = 30 %, Price Action = 30 %).
6. Impact on netScore: Because category scores (–3 to +3) multiply by these weights, High Activity amplifies the effect of strong Trend and Momentum scores; Low Activity amplifies the effect of Price Action.
7. Market Context Tooltip: The dashboard includes a tooltip summarizing the current state—e.g., “High activity, trend and momentum prioritized,” “Low activity, price action prioritized,” or “Balanced market, all categories considered.”
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11. Category Weights: Base vs. Dynamic
Traders begin by specifying base weights for Trend Strength, Momentum, and Price Action that sum to 100 %. These apply only when volatility is in the Medium band. Once volatility shifts:
• High Volatility Overrides:
• Trend jumps from its base (e.g., 40 %) to 50 %.
• Momentum jumps from its base (e.g., 30 %) to 35 %.
• Price Action is reduced to 15 %.
Example: If base weights were Trend = 40 %, Momentum = 30 %, Price Action = 30 %, then in High Activity they become 50/35/15. A Trend score of +3 now contributes 3 × 0.50 = +1.50 to netScore; a Momentum +2 contributes 2 × 0.35 = +0.70. In total, Trend + Momentum can easily push netScore above the +2 threshold on its own.
• Low Volatility Overrides:
• Price Action leaps from its base (30 %) to 55 %.
• Trend falls to 25 %, Momentum falls to 20 %.
Why? When markets are quiet, subtle candle breakouts, doji patterns, and small-range expansions tend to foreshadow the next swing more effectively than raw trend readings. A Price Action score of +3 in this state contributes 3 × 0.55 = +1.65, which can carry the netScore toward +2—even if Trend and Momentum are neutral or only mildly positive.
Because these weight shifts happen only after two consecutive bars confirm a High or Low state (if hysteresis is on), the indicator avoids constantly flipping its emphasis during borderline volatility phases.
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12. Dominant Category Explained
Within the dashboard, a label such as “Trend Dominant,” “Momentum Dominant,” or “Price Action Dominant” appears when one category’s absolute weighted contribution to netScore is the largest. Concretely:
• Compute each category’s weighted contribution = (raw category score) × (current weight).
• Compare the absolute values of those three contributions.
• The category with the highest absolute value is flagged as Dominant for that bar.
Why It Matters:
• Momentum Dominant: Indicates that the combined force of RSI, Stochastic, and MACD (after weighting) is pushing netScore farther than either Trend or Price Action. In practice, it means that short-term sentiment and speed of change are the primary drivers right now, so traders should watch for continued momentum signals before committing to a trade.
• Trend Dominant: Means ADX, MA slope, and Ichimoku (once weighted) outweigh the other categories. This suggests a strong directional move is in place; trend-following entries or confirming pullbacks are likely to succeed.
• Price Action Dominant: Occurs when breakout/breakdown patterns, Heikin-Ashi candle readings, and range expansions (after weighting) are the most influential. This often happens in calmer markets, where subtle shifts in candle structure can foreshadow bigger moves.
By explicitly calling out which category is carrying the most weight at any moment, the dashboard gives traders immediate insight into why the netScore is tilting toward bullish, bearish, or sideways.
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13. Oscillator Plot: How to Read It
The “Net Score” oscillator sits below the dashboard and visually displays the smoothed netScore as a line graph. Key features:
1. Value Range: In normal conditions it oscillates roughly between –3 and +3, but extreme confluences can push it outside that range.
2. Horizontal Threshold Lines:
• +2 Line (Bullish threshold)
• 0 Line (Neutral midline)
• –2 Line (Bearish threshold)
3. Zone Coloring:
• Green Background (Bullish Zone): When netScore ≥ +2.
• Red Background (Bearish Zone): When netScore ≤ –2.
• Gray Background (Sideways Zone): When –2 < netScore < +2.
4. Dynamic Line Color:
• The plotted netScore line itself is colored green in a Bullish Zone, red in a Bearish Zone, or gray in a Sideways Zone, creating an immediate visual cue.
Interpretation Tips:
• Crossing Above +2: Signals a strong enough combined trend/momentum/price-action reading to classify as Bullish. Many traders wait for a clear crossing plus a confirmation candle before entering a long position.
• Crossing Below –2: Indicates a strong Bearish signal. Traders may consider short or exit strategies.
• Rising Slope, Even Below +2: If netScore climbs steadily from neutral toward +2, it demonstrates building bullish momentum.
• Divergence: If price makes a higher high but the oscillator fails to reach a new high, it can warn of weakening momentum and a potential reversal.
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14. Comments and Their Necessity
Every sub-indicator (ADX, MA slope, Ichimoku, RSI, Stochastic, MACD, HH/LL, Heikin-Ashi, Candle Range, BBW, ATR, KCW, Volume) generates a short comment that appears in the detailed dashboard. Examples:
• “Strong bullish trend” or “Strong bearish trend” for ADX/DMI
• “Fast MA above slow MA” or “Fast MA below slow MA” for MA slope
• “RSI above dynamic threshold” or “RSI below dynamic threshold” for RSI
• “MACD histogram positive” or “MACD histogram negative” for MACD Hist
• “Price near highs” or “Price near lows” for HH/LL checks
• “Bullish Heikin Ashi” or “Bearish Heikin Ashi” for HA Doji scoring
• “Large range, trend confirmed” or “Small range, trend contradicted” for Candle Range
Additionally, the top-row comment for each category is:
• Trend: “Highly Bullish,” “Highly Bearish,” or “Neutral Trend.”
• Momentum: “Strong Momentum,” “Weak Momentum,” or “Neutral Momentum.”
• Price Action: “Bullish Action,” “Bearish Action,” or “Neutral Action.”
• Market Activity: “Volatile Market,” “Calm Market,” or “Stable Market.”
Reasons for These Comments:
• Transparency: Shows exactly how each sub-indicator contributed to its category score.
• Education: Helps traders learn why a category is labeled bullish, bearish, or neutral, building intuition over time.
• Customization: If, for example, the RSI comment says “RSI neutral” despite an impending trend shift, a trader might choose to adjust RSI length or thresholds.
In the detailed dashboard, hovering over each comment cell also reveals a tooltip with additional context (e.g., “Fast MA above slow MA” or “Senkou A above Senkou B”), helping traders understand the precise rule behind that +1, 0, or –1 assignment.
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15. Real-Life Example (Consolidated)
• Instrument & Timeframe: Bitcoin (BTCUSD), 1-hour chart.
• Current Market Activity: BBW and ATR both spike (+1 each), KCW is moderately high (+1), but volume is only neutral (0) → Raw Market Activity Score = +2 → State = High Activity (after two bars, if hysteresis is on).
• Category Weights Applied: Trend = 50 %, Momentum = 35 %, Price Action = 15 %.
• Trend Sub-Scores:
1. ADX = 25 (above threshold 20) with +DI > –DI → +1.
2. Fast MA (20-period) sits above Slow MA (50-period) → +1.
3. Ichimoku: Senkou A > Senkou B → +1.
→ Trend Score = +3.
• Momentum Sub-Scores:
4. RSI = 75 (above its moving average +1 stdev) → +1.
5. MACD histogram = +0.15 → +1.
6. Stochastic %K = 50 (mid-range) → 0.
→ Momentum Score = +2.
• Price Action Sub-Scores:
7. Price is not within 1 % of the 20-period high/low and slope = positive → 0.
8. Heikin-Ashi body is slightly larger than stdev over last 5 bars with haClose > haOpen → +1.
9. Candle range is just above its dynamic upper bound but trend is already captured, so → +1.
→ Price Action Score = +2.
• Calculate netScore (before smoothing):
• Trend contribution = 3 × 0.50 = 1.50
• Momentum contribution = 2 × 0.35 = 0.70
• Price Action contribution = 2 × 0.15 = 0.30
• Raw netScore = 1.50 + 0.70 + 0.30 = 2.50 → Immediately classified as Bullish.
• Oscillator & Dashboard Output:
• The oscillator line crosses above +2 and turns green.
• Dashboard displays:
• Trend Regime “BULLISH,” Trend Score = 3, Comment = “Highly Bullish.”
• Momentum Regime “BULLISH,” Momentum Score = 2, Comment = “Strong Momentum.”
• Price Action Regime “BULLISH,” Price Action Score = 2, Comment = “Bullish Action.”
• Market Activity State “High,” Comment = “Volatile Market.”
• Weights: Trend 50 %, Momentum 35 %, Price Action 15 %.
• Dominant Category: Trend (because 1.50 > 0.70 > 0.30).
• Overall Score: 2.50, posCount = (three +1s in Trend) + (two +1s in Momentum) + (two +1s in Price Action) = 7 bullish signals, negCount = 0.
• Final Zone = “BULLISH.”
• The trader sees that both Trend and Momentum are reinforcing each other under high volatility. They might wait one more candle for confirmation but already have strong evidence to consider a long.
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• .
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Disclaimer
This indicator is strictly a technical analysis tool and does not constitute financial advice. All trading involves risk, including potential loss of capital. Past performance is not indicative of future results. Traders should:
• Always backtest the “Market Zone Analyzer ” on their chosen symbols and timeframes before committing real capital.
• Combine this tool with sound risk management, position sizing, and, if possible, fundamental analysis.
• Understand that no indicator is foolproof; always be prepared for unexpected market moves.
Goodluck
-BullByte!
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Emperor RSI CandleDescription:
The Emperor RSI Candle is a real-time, non-lagging trading indicator that colors candles based on RSI (Relative Strength Index) levels. It offers instant visual feedback on market momentum, making it easy to identify trend strength, overbought/oversold zones, and potential reversals with precision.
Unlike traditional RSI indicators, which display RSI values in a separate panel, Emperor RSI Candle integrates RSI signals directly into the candles, providing a cleaner, more intuitive charting experience. Its multi-timeframe RSI box shows RSI values across different timeframes, offering confluence confirmation for better trade decisions.
🔥 Emperor RSI Candle is original because it includes a multi-timeframe RSI box that displays RSI values from:
1 min → Monthly timeframes simultaneously.
📊 How this is unique:
Traders can instantly compare RSI values across different timeframes.
This helps them spot confluence and divergences, which is not possible with standard RSI indicators.
The multi-timeframe confluence feature makes the indicator highly effective for both short-term and long-term traders.
🚀 What the script does:
Real-time candle coloring based on RSI levels.
Multi-timeframe RSI box for confluence insights.
Customizable RSI settings for adaptability.
How it benefits traders:
Instant visual feedback for momentum and reversals.
No lag signals for precise trading decisions.
Flexible customization for different trading styles.
Unique visual signals:
Green, red, parrot green, and blue candles → Clearly indicating bullish/bearish momentum and overbought/oversold zones.
Multi-timeframe RSI box → For cross-timeframe confluence.
⚡️ 🔥 UNIQUE FEATURES 🔥:
✅ Multi-Timeframe RSI Box:
Displays RSI values from 1 min to monthly timeframes, helping traders confirm confluence across different timeframes.
✅ Fully Customizable RSI Levels & Display:
Modify RSI thresholds, source, and appearance to fit your trading style.
✅ Dynamic Candle Borders for Weak Signals:
Green border → Weak bullishness (RSI between 50-60).
Red border → Weak bearishness (RSI between 40-50).
✅ Lag-Free, Real-Time Accuracy:
No repainting or delay—instant visual signals for accurate decisions.
✅ Scalable for Any Trading Style:
Perfect for both intraday scalping and positional trading.
📊 🔥 HOW IT WORKS 🔥:
The indicator dynamically colors candles based on RSI values, providing real-time visual signals:
🟢 Above 60 RSI → Green candle:
Indicates bullish momentum, signaling potential upward continuation.
🟩 Above 80 RSI → Parrot green candle:
Overbought zone → Possible reversal or profit booking.
🟥 Below 40 RSI → Red candle:
Signals bearish momentum, indicating potential downward continuation.
🔵 Below 20 RSI → Blue candle:
Oversold zone → Possible reversal opportunity.
🔲 Neutral candles:
50-60 RSI → Green border: Weak bullishness.
40-50 RSI → Red border: Weak bearishness.
📊 🔥 MULTI-TIMEFRAME RSI BOX 🔥:
The Emperor RSI Candle includes an RSI box displaying multi-timeframe RSI values from 1 min to monthly. This provides:
✅ Confluence confirmation:
Compare RSI across multiple timeframes to strengthen trade conviction.
✅ Spot divergences:
Identify hidden trends by comparing smaller and larger timeframes.
✅ Validate trade entries/exits:
Use higher timeframe RSI to confirm smaller timeframe signals
⚙️ 🔥 HOW TO USE IT 🔥:
To maximize the accuracy and clarity of Emperor RSI Candle, follow these steps:
🔧 STEP 1: Chart Settings Configuration
Go to Chart Settings → Symbols
Uncheck the following options:
Body
Borders
Wick
✅ This ensures that only the Emperor Candle colors are visible, making the signals clear and distinct.
🔧 STEP 2: Style Settings for Emperor Candle
After applying the Emperor RSI Candle:
Go to Settings → Style tab
Wick section:
Select Color 2 and Color 3 → Set Opacity to 100%.
Border section:
Select Color 2 and Color 3 → Set Opacity to 100%.
✅ This ensures the candles display with full visibility and accurate colors.
⚙️ 🔥 CUSTOMIZATION OPTIONS 🔥:
Emperor RSI Candle offers full flexibility to match your trading style:
✅ RSI Length:
Modify the period used for RSI calculation (default: 10).
✅ Top & Bottom Levels:
Adjust the overbought (default: 80) and oversold (default: 20) thresholds.
✅ Intermediate Levels:
Up Level: Default: 60 → Bullish RSI threshold.
Down Level: Default: 40 → Bearish RSI threshold.
Mid Level: Default: 50 → Neutral zone.
✅ RSI Source:
Select the price source for RSI calculation (Close, Open, High, Low).
✅ RSI Period:
Customize the RSI calculation period (default: 10).
✅ Font Size:
Adjust the RSI box font size for better visibility.
✅ Box Position:
Choose where to display the RSI box:
Top Left / Top Center / Top Right
Bottom Left / Bottom Center / Bottom Right
💡 🔥 HOW IT IMPROVES TRADING 🔥:
✅ Clear trend identification:
Instantly recognize bullish, bearish, or neutral conditions through candle colors.
✅ Precise entries and exits:
Spot overbought and oversold zones with visual clarity.
✅ Multi-timeframe confirmation:
Validate trades with RSI confluence across multiple timeframes.
✅ No lag, real-time accuracy:
Immediate visual signals for faster and more reliable trade decisions.
✅ Customizable settings:
Tailor the indicator to fit your trading strategy and preferences.
✅ Works for all trading styles:
Suitable for scalping, day trading, and swing trading.
🔥How Traders Can Use Emperor RSI Candle for Trading:
🟢 Green Candles (Above 60 RSI) → Bullish Momentum:
Indicates strong upward movement → Ideal for long entries.
Traders can hold until RSI approaches 80 for profit booking.
🟥 Red Candles (Below 40 RSI) → Bearish Momentum:
Signals strong downward movement → Ideal for short trades.
Traders can exit or book profits near RSI 20.
2. Spotting Overbought and Oversold Zones for Reversals:
🟩 Parrot Green Candles (Above 80 RSI) → Overbought Zone:
Indicates potential for reversals or profit booking.
Traders can tighten stop-losses or exit positions.
🔵 Blue Candles (Below 20 RSI) → Oversold Zone:
Signals a potential reversal opportunity.
Traders can look for buy signals with confluence confirmation.
3. Catching Weak Bullish and Bearish Trends with Border Colors:
🟢 Green Border (RSI 50-60) → Weak Bullishness:
Indicates mild upward momentum.
Traders can consider cautious long entries.
🔴 Red Border (RSI 40-50) → Weak Bearishness:
Indicates mild downward pressure.
Traders can consider cautious short entries.
4. Using the RSI Multi-Timeframe Box for Confluence:
✅ Displays RSI values from 1 min to monthly timeframes.
Usage:
Confluence confirmation:
Multiple timeframes showing bullish RSI → Strong uptrend → Reliable buy signals.
Multiple timeframes showing bearish RSI → Strong downtrend → Reliable sell signals.
Spotting divergences:
If lower timeframes are bullish but higher timeframes are bearish, it indicates a potential reversal.
5. Customization Tips for Different Trading Styles:
✅ For Scalping:
Use a smaller RSI period (9-10) for faster signals.
Check the multi-timeframe RSI box to confirm signals quickly.
✅ For Swing Trading:
Use the default RSI period (14-15) for more accurate signals.
Focus on higher timeframes (1 hr, 4 hr, daily) for stronger trend confirmation.
Turbo Oscillator [RunRox]Introducing Turbo Oscillator by RunRox, our new indicator that combines a multitude of useful and unique features, which we will detail in this post.
List of Advanced Technologies:
Real-Time Divergences: Detects discrepancies between price movements and oscillator indicators to forecast potential price reversals.
Real-Time Hidden Divergences: We identify hidden divergences in real-time. These are not the standard type of divergences; they are opposite to regular divergences, providing unique insights into potential market movements.
Overbought and Oversold Zones: Identifies areas where the market is potentially overextended, suggesting possible entry and exit points.
Signal Line: Indicates the market direction, helping traders to quickly understand current trends.
Money Flow Histogram: Shows the flow of money into and out of the market, providing insights into buying and selling pressure.
Predicted Reversal Zones: Pinpoints areas where the market might experience reversals, aiding in strategic planning and risk management. These zones also serve as potential areas for taking profits, enhancing their utility for exit strategy planning.
Customizable Alerts: You can flexibly set up alerts for any events detected by our indicator, ensuring you stay informed about critical market movements.
To begin with, I would like to describe the difference between classic divergences and hidden divergences.
As you can see, these are opposite situations. Our oscillator identifies both types of divergences and displays them in real-time.
Divergences can serve as points where the price might reverse in the opposite direction, making both classic and hidden divergences powerful tools for spotting reversal points. I'll show a few examples of how divergences are used in our oscillator.
Classic Divergences - which we identify in real-time. As you can see, the price often reacts strongly to the formation of these divergences, frequently changing its direction.
Hidden Divergences - we also observe frequent movement in the opposite direction on the chart. The advantage of our indicator is that we show divergences in real-time without delays, allowing you to react immediately to trend changes.
Overbought and Oversold Zones - These zones allow you to see trend changes when the price is clearly overbought or oversold. When the color changes from a contrasting shade to a neutral one, you can observe the trend shift. The lines work by combining the positivity/negativity of the histogram, the positivity/negativity of the signal line, and the direction of the signal line (red/green). This sophisticated interaction provides precise insights into market conditions, making it an invaluable tool for traders.
Signal Line - This provides insights into trend changes and price reversals. The points on the line better indicate the beginning of a trend shift. These points can vary in size, offering a clearer understanding of the strength of the emerging trend. This feature works in combination with RSI, Stochastic, and MFI. RSI and MFI are top-tier indicators, while Stochastic adds responsiveness and sensitivity to trend changes, ensuring you capture every market movement accurately and promptly.
Money Flow Histogram - As shown in the example, our histogram displays the divergence between money flow and the actual price. You can see that while the price is rising, the money flow is decreasing, indicating insufficient demand for the asset and an imminent trend change. This feature uses MFI with an extended period, providing a more comprehensive and accurate analysis of market conditions. The extended period enhances the reliability of the Money Flow Index, making it an essential tool for identifying subtle shifts in market dynamics.
Predicted Reversal Zones - We automatically identify potential price reversal zones and display them above our overbought and oversold zones. In cases of strong overbought or oversold conditions, we detect potential price pullbacks and mark the beginning of a trend change. This helps you better identify trend shifts. We recommend considering these zones as potential take profit points for your trades.
Customizable Alerts - Our flexible alert system allows you to receive notifications only for the events you are interested in. These can include:
1. Classic Divergences
2. Hidden Divergences
3. Overbought or Oversold conditions on the status line
4. Strong Overbought or Oversold conditions on the status line
5. Signals from the signal line
6. Reversal zones in any direction
Our oscillator is a unique indicator that provides a comprehensive understanding of price movements. It can be used as a standalone tool for analyzing price action.
Here are a few examples of using our Oscillator in practice:
In the example above, you can see three conditions that have formed for a potential trade:
1. Clear overbought condition with a formed reversal point.
2. Decreasing Money Flow Index diverging from the rising price.
3. Formed classic divergence.
The entry point could be the formed divergence, while the exit point could be the overbought condition at the bottom of the oscillator along with the reversal points.
Here's another example of using hidden divergence, where you can see three conditions for a potential trade:
1. Overbought zone
2. Formed hidden divergence
3. Start of bearish movement indicated by the signal line
You can enter the trade either when the hidden divergence forms or wait for confirmation of the trend change by the signal line and enter the trade when the corresponding signal forms on the signal line. The exit point could be the opposite reversal point or the formation of a new hidden divergence.
We have demonstrated a few examples of how you can use our indicator, but we are confident that you will find many more applications in your own strategies.
Oscillator offers a variety of customizable parameters to tailor the indicator to your trading preferences. Here’s what our settings include:
Signal Line
Turn On/Off: Enable or disable the signal line.
Length: Set the length period for the signal line calculation.
Smooth: Adjust the smoothing level of the signal line for more accurate display.
Histogram
Turn On/Off: Enable or disable the histogram.
Length: Set the length period for the histogram calculation.
Smooth: Adjust the smoothing level of the histogram.
Other
Show Divergence Line: Display divergence lines on the chart.
Show Hidden Divergence: Display hidden divergences.
Show Status Line: Show the status line indicating overbought or oversold conditions.
Show TP Signal: Display signals for take profit.
Show Reversal Points: Display potential trend reversal points.
Delete Broken Divergence Lines: Remove broken divergence lines from the chart.
Alerts Customization
Signal Line Bull/Bear: Set alerts for bullish or bearish signals from the signal line.
TP Bull/Bear: Set alerts for take profit signals.
Status Bull/Bear: Set alerts for bullish or bearish status conditions.
Status Bull+/Bear+: Set enhanced alerts for stronger bullish or bearish status conditions.
Divergence Bull/Bear: Set alerts for bullish or bearish divergences.
Hidden Divergence Bull/Bear: Set alerts for hidden bullish or bearish divergences.
With these comprehensive settings, you can fine-tune the Oscillator to perfectly fit your trading strategy and preferences.
Our indicator utilizes technologies such as RSI, Stochastic, and Money Flow Index, with numerous enhancements from our team. It includes exclusive features such as real-time detection of hidden and classic divergences, identification of reversal points using our unique methodology, and much more.
Disclaimer:
While we consider our Turbo Oscillator to be an excellent tool, it is important to understand that past performance is not indicative of future results. We recommend approaching market analysis comprehensively, using a combination of tools and techniques to make well-informed trading decisions. Always consider the full range of market data and risks when using any trading indicator.
MTF_DrawingsLibrary 'MTF_Drawings'
This library helps with drawing indicators and candle charts on all timeframes.
FEATURES
CHART DRAWING : Library provides functions for drawing High Time Frame (HTF) and Low Time Frame (LTF) candles.
INDICATOR DRAWING : Library provides functions for drawing various types of HTF and LTF indicators.
CUSTOM COLOR DRAWING : Library allows to color candles and indicators based on specific conditions.
LINEFILLS : Library provides functions for drawing linefills.
CATEGORIES
The functions are named in a way that indicates they purpose:
{Ind} : Function is meant only for indicators.
{Hist} : Function is meant only for histograms.
{Candle} : Function is meant only for candles.
{Draw} : Function draws indicators, histograms and candle charts.
{Populate} : Function generates necessary arrays required by drawing functions.
{LTF} : Function is meant only for lower timeframes.
{HTF} : Function is meant only for higher timeframes.
{D} : Function draws indicators that are composed of two lines.
{CC} : Function draws custom colored indicators.
USAGE
Import the library into your script.
Before using any {Draw} function it is necessary to use a {Populate} function.
Choose the appropriate one based on the category, provide the necessary arguments, and then use the {Draw} function, forwarding the arrays generated by the {Populate} function.
This doesn't apply to {Draw_Lines}, {LineFill}, or {Barcolor} functions.
EXAMPLE
import Spacex_trader/MTF_Drawings/1 as tf
//Request lower timeframe data.
Security(simple string Ticker, simple string New_LTF, float Ind) =>
float Value = request.security_lower_tf(Ticker, New_LTF, Ind)
Value
Timeframe = input.timeframe('1', 'Timeframe: ')
tf.Draw_Ind(tf.Populate_LTF_Ind(Security(syminfo.tickerid, Timeframe, ta.rsi(close, 14)), 498, color.purple), 1, true)
FUNCTION LIST
HTF_Candle(BarsBack, BodyBear, BodyBull, BordersBear, BordersBull, WickBear, WickBull, LineStyle, BoxStyle, LineWidth, HTF_Open, HTF_High, HTF_Low, HTF_Close, HTF_Bar_Index)
Populates two arrays with drawing data of the HTF candles.
Parameters:
BarsBack (int) : Bars number to display.
BodyBear (color) : Candle body bear color.
BodyBull (color) : Candle body bull color.
BordersBear (color) : Candle border bear color.
BordersBull (color) : Candle border bull color.
WickBear (color) : Candle wick bear color.
WickBull (color) : Candle wick bull color.
LineStyle (string) : Wick style (Solid-Dotted-Dashed).
BoxStyle (string) : Border style (Solid-Dotted-Dashed).
LineWidth (int) : Wick width.
HTF_Open (float) : HTF open price.
HTF_High (float) : HTF high price.
HTF_Low (float) : HTF low price.
HTF_Close (float) : HTF close price.
HTF_Bar_Index (int) : HTF bar_index.
Returns: Two arrays with drawing data of the HTF candles.
LTF_Candle(BarsBack, BodyBear, BodyBull, BordersBear, BordersBull, WickBear, WickBull, LineStyle, BoxStyle, LineWidth, LTF_Open, LTF_High, LTF_Low, LTF_Close)
Populates two arrays with drawing data of the LTF candles.
Parameters:
BarsBack (int) : Bars number to display.
BodyBear (color) : Candle body bear color.
BodyBull (color) : Candle body bull color.
BordersBear (color) : Candle border bear color.
BordersBull (color) : Candle border bull color.
WickBear (color) : Candle wick bear color.
WickBull (color) : Candle wick bull color.
LineStyle (string) : Wick style (Solid-Dotted-Dashed).
BoxStyle (string) : Border style (Solid-Dotted-Dashed).
LineWidth (int) : Wick width.
LTF_Open (float ) : LTF open price.
LTF_High (float ) : LTF high price.
LTF_Low (float ) : LTF low price.
LTF_Close (float ) : LTF close price.
Returns: Two arrays with drawing data of the LTF candles.
Draw_Candle(Box, Line, Offset)
Draws HTF or LTF candles.
Parameters:
Box (box ) : Box array with drawing data.
Line (line ) : Line array with drawing data.
Offset (int) : Offset of the candles.
Returns: Drawing of the candles.
Populate_HTF_Ind(IndValue, BarsBack, IndColor, HTF_Bar_Index)
Populates one array with drawing data of the HTF indicator.
Parameters:
IndValue (float) : Indicator value.
BarsBack (int) : Indicator lines to display.
IndColor (color) : Indicator color.
HTF_Bar_Index (int) : HTF bar_index.
Returns: An array with drawing data of the HTF indicator.
Populate_LTF_Ind(IndValue, BarsBack, IndColor)
Populates one array with drawing data of the LTF indicator.
Parameters:
IndValue (float ) : Indicator value.
BarsBack (int) : Indicator lines to display.
IndColor (color) : Indicator color.
Returns: An array with drawing data of the LTF indicator.
Draw_Ind(Line, Mult, Exe)
Draws one HTF or LTF indicator.
Parameters:
Line (line ) : Line array with drawing data.
Mult (int) : Coordinates multiplier.
Exe (bool) : Display the indicator.
Returns: Drawing of the indicator.
Populate_HTF_Ind_D(IndValue_1, IndValue_2, BarsBack, IndColor_1, IndColor_2, HTF_Bar_Index)
Populates two arrays with drawing data of the HTF indicators.
Parameters:
IndValue_1 (float) : First indicator value.
IndValue_2 (float) : Second indicator value.
BarsBack (int) : Indicator lines to display.
IndColor_1 (color) : First indicator color.
IndColor_2 (color) : Second indicator color.
HTF_Bar_Index (int) : HTF bar_index.
Returns: Two arrays with drawing data of the HTF indicators.
Populate_LTF_Ind_D(IndValue_1, IndValue_2, BarsBack, IndColor_1, IndColor_2)
Populates two arrays with drawing data of the LTF indicators.
Parameters:
IndValue_1 (float ) : First indicator value.
IndValue_2 (float ) : Second indicator value.
BarsBack (int) : Indicator lines to display.
IndColor_1 (color) : First indicator color.
IndColor_2 (color) : Second indicator color.
Returns: Two arrays with drawing data of the LTF indicators.
Draw_Ind_D(Line_1, Line_2, Mult, Exe_1, Exe_2)
Draws two LTF or HTF indicators.
Parameters:
Line_1 (line ) : First line array with drawing data.
Line_2 (line ) : Second line array with drawing data.
Mult (int) : Coordinates multiplier.
Exe_1 (bool) : Display the first indicator.
Exe_2 (bool) : Display the second indicator.
Returns: Drawings of the indicators.
Barcolor(Box, Line, BarColor)
Colors the candles based on indicators output.
Parameters:
Box (box ) : Candle box array.
Line (line ) : Candle line array.
BarColor (color ) : Indicator color array.
Returns: Colored candles.
Populate_HTF_Ind_D_CC(IndValue_1, IndValue_2, BarsBack, BullColor, BearColor, IndColor_1, HTF_Bar_Index)
Populates two array with drawing data of the HTF indicators with color based on: IndValue_1 >= IndValue_2 ? BullColor : BearColor.
Parameters:
IndValue_1 (float) : First indicator value.
IndValue_2 (float) : Second indicator value.
BarsBack (int) : Indicator lines to display.
BullColor (color) : Bull color.
BearColor (color) : Bear color.
IndColor_1 (color) : First indicator color.
HTF_Bar_Index (int) : HTF bar_index.
Returns: Three arrays with drawing and color data of the HTF indicators.
Populate_LTF_Ind_D_CC(IndValue_1, IndValue_2, BarsBack, BullColor, BearColor, IndColor_1)
Populates two arrays with drawing data of the LTF indicators with color based on: IndValue_1 >= IndValue_2 ? BullColor : BearColor.
Parameters:
IndValue_1 (float ) : First indicator value.
IndValue_2 (float ) : Second indicator value.
BarsBack (int) : Indicator lines to display.
BullColor (color) : Bull color.
BearColor (color) : Bearcolor.
IndColor_1 (color) : First indicator color.
Returns: Three arrays with drawing and color data of the LTF indicators.
Populate_HTF_Hist_CC(HistValue, IndValue_1, IndValue_2, BarsBack, BullColor, BearColor, HTF_Bar_Index)
Populates one array with drawing data of the HTF histogram with color based on: IndValue_1 >= IndValue_2 ? BullColor : BearColor.
Parameters:
HistValue (float) : Indicator value.
IndValue_1 (float) : First indicator value.
IndValue_2 (float) : Second indicator value.
BarsBack (int) : Indicator lines to display.
BullColor (color) : Bull color.
BearColor (color) : Bearcolor.
HTF_Bar_Index (int) : HTF bar_index
Returns: Two arrays with drawing and color data of the HTF histogram.
Populate_LTF_Hist_CC(HistValue, IndValue_1, IndValue_2, BarsBack, BullColor, BearColor)
Populates one array with drawing data of the LTF histogram with color based on: IndValue_1 >= IndValue_2 ? BullColor : BearColor.
Parameters:
HistValue (float ) : Indicator value.
IndValue_1 (float ) : First indicator value.
IndValue_2 (float ) : Second indicator value.
BarsBack (int) : Indicator lines to display.
BullColor (color) : Bull color.
BearColor (color) : Bearcolor.
Returns: Two array with drawing and color data of the LTF histogram.
Populate_LTF_Hist_CC_VA(HistValue, Value, BarsBack, BullColor, BearColor)
Populates one array with drawing data of the LTF histogram with color based on: HistValue >= Value ? BullColor : BearColor.
Parameters:
HistValue (float ) : Indicator value.
Value (float) : First indicator value.
BarsBack (int) : Indicator lines to display.
BullColor (color) : Bull color.
BearColor (color) : Bearcolor.
Returns: Two array with drawing and color data of the LTF histogram.
Populate_HTF_Ind_CC(IndValue, IndValue_1, BarsBack, BullColor, BearColor, HTF_Bar_Index)
Populates one array with drawing data of the HTF indicator with color based on: IndValue >= IndValue_1 ? BullColor : BearColor.
Parameters:
IndValue (float) : Indicator value.
IndValue_1 (float) : Second indicator value.
BarsBack (int) : Indicator lines to display.
BullColor (color) : Bull color.
BearColor (color) : Bearcolor.
HTF_Bar_Index (int) : HTF bar_index
Returns: Two arrays with drawing and color data of the HTF indicator.
Populate_LTF_Ind_CC(IndValue, IndValue_1, BarsBack, BullColor, BearColor)
Populates one array with drawing data of the LTF indicator with color based on: IndValue >= IndValue_1 ? BullColor : BearColor.
Parameters:
IndValue (float ) : Indicator value.
IndValue_1 (float ) : Second indicator value.
BarsBack (int) : Indicator lines to display.
BullColor (color) : Bull color.
BearColor (color) : Bearcolor.
Returns: Two arrays with drawing and color data of the LTF indicator.
Draw_Lines(BarsBack, y1, y2, LineType, Fill)
Draws price lines on indicators.
Parameters:
BarsBack (int) : Indicator lines to display.
y1 (float) : Coordinates of the first line.
y2 (float) : Coordinates of the second line.
LineType (string) : Line type.
Fill (color) : Fill color.
Returns: Drawing of the lines.
LineFill(Upper, Lower, BarsBack, FillColor)
Fills two lines with linefill HTF or LTF.
Parameters:
Upper (line ) : Upper line.
Lower (line ) : Lower line.
BarsBack (int) : Indicator lines to display.
FillColor (color) : Fill color.
Returns: Linefill of the lines.
Populate_LTF_Hist(HistValue, BarsBack, HistColor)
Populates one array with drawing data of the LTF histogram.
Parameters:
HistValue (float ) : Indicator value.
BarsBack (int) : Indicator lines to display.
HistColor (color) : Indicator color.
Returns: One array with drawing data of the LTF histogram.
Populate_HTF_Hist(HistValue, BarsBack, HistColor, HTF_Bar_Index)
Populates one array with drawing data of the HTF histogram.
Parameters:
HistValue (float) : Indicator value.
BarsBack (int) : Indicator lines to display.
HistColor (color) : Indicator color.
HTF_Bar_Index (int) : HTF bar_index.
Returns: One array with drawing data of the HTF histogram.
Draw_Hist(Box, Mult, Exe)
Draws HTF or LTF histogram.
Parameters:
Box (box ) : Box Array.
Mult (int) : Coordinates multiplier.
Exe (bool) : Display the histogram.
Returns: Drawing of the histogram.
RSI WMA VWMA Divergence Indicator// This Pine Script® code is subject to the terms of the Mozilla Public License 2.0 at mozilla.org
// © Kenndjk
//@version=6
indicator(title="RSI WMA VWMA Divergence Indicator", shorttitle="Kenndjk", format=format.price, precision=2)
oscType = input.string("RSI", "Oscillator Type", options = , group="General Settings")
// RSI Settings
rsiGroup = "RSI Settings"
rsiLengthInput = input.int(14, minval=1, title="RSI Length", group=rsiGroup)
rsiSourceInput = input.source(close, "Source", group=rsiGroup)
// WMA VWMA
wmaLength = input.int(9, "WMA Length", minval=1, group="WMA Settings")
vwmaLength = input.int(3, "VWMA Length", minval=1, group="WMA Settings")
wma = ta.wma(close, wmaLength)
vwma = ta.vwma(close, vwmaLength)
useVWMA = input.bool(true, "Use VWMA for Divergence (when WMA + VWMA mode)", group="WMA Settings")
// Oscillator selection
rsi = ta.rsi(rsiSourceInput, rsiLengthInput) // Calculate RSI always, but use conditionally
osc = oscType == "RSI" ? rsi : useVWMA ? vwma : wma
// RSI plots (conditional)
isRSI = oscType == "RSI"
rsiPlot = plot(isRSI ? rsi : na, "RSI", color=isRSI ? #7E57C2 : na)
rsiUpperBand = hline(isRSI ? 70 : na, "RSI Upper Band", color=isRSI ? #787B86 : na)
midline = hline(isRSI ? 50 : na, "RSI Middle Band", color=isRSI ? color.new(#787B86, 50) : na)
rsiLowerBand = hline(isRSI ? 30 : na, "RSI Lower Band", color=isRSI ? #787B86 : na)
fill(rsiUpperBand, rsiLowerBand, color=isRSI ? color.rgb(126, 87, 194, 90) : na, title="RSI Background Fill")
midLinePlot = plot(isRSI ? 50 : na, color = na, editable = false, display = display.none)
fill(rsiPlot, midLinePlot, 100, 70, top_color = isRSI ? color.new(color.green, 0) : na, bottom_color = isRSI ? color.new(color.green, 100) : na, title = "Overbought Gradient Fill")
fill(rsiPlot, midLinePlot, 30, 0, top_color = isRSI ? color.new(color.red, 100) : na, bottom_color = isRSI ? color.new(color.red, 0) : na, title = "Oversold Gradient Fill")
// WMA VWMA plots
wmaColor = oscType != "RSI" ? (useVWMA ? color.new(color.blue, 70) : color.blue) : na
wmaWidth = useVWMA ? 1 : 2
vwmaColor = oscType != "RSI" ? (useVWMA ? color.orange : color.new(color.orange, 70)) : na
vwmaWidth = useVWMA ? 2 : 1
plot(oscType != "RSI" ? wma : na, "WMA", color=wmaColor, linewidth=wmaWidth)
plot(oscType != "RSI" ? vwma : na, "VWMA", color=vwmaColor, linewidth=vwmaWidth)
// Smoothing MA inputs (only for RSI)
GRP = "Smoothing (RSI only)"
TT_BB = "Only applies when 'Show Bollinger Bands' is selected. Determines the distance between the SMA and the bands."
maLengthSMA = input.int(14, "SMA Length", minval=1, group=GRP, display=display.data_window)
maLengthEMA = input.int(14, "EMA Length", minval=1, group=GRP, display=display.data_window)
maLengthRMA = input.int(14, "SMMA (RMA) Length", minval=1, group=GRP, display=display.data_window)
maLengthWMA = input.int(14, "WMA Length", minval=1, group=GRP, display=display.data_window)
maLengthVWMA = input.int(14, "VWMA Length", minval=1, group=GRP, display=display.data_window)
bbMultInput = input.float(2.0, "BB StdDev", minval=0.001, maxval=50, step=0.5, tooltip=TT_BB, group=GRP, display=display.data_window)
showSMA = input.bool(false, "Show SMA", group=GRP)
showEMA = input.bool(false, "Show EMA", group=GRP)
showRMA = input.bool(false, "Show SMMA (RMA)", group=GRP)
showWMAsmooth = input.bool(false, "Show WMA", group=GRP)
showVWMAsmooth = input.bool(false, "Show VWMA", group=GRP)
showBB = input.bool(false, "Show SMA + Bollinger Bands", group=GRP, tooltip=TT_BB)
// Smoothing MA Calculations
sma_val = (showSMA or showBB) and isRSI ? ta.sma(rsi, maLengthSMA) : na
ema_val = showEMA and isRSI ? ta.ema(rsi, maLengthEMA) : na
rma_val = showRMA and isRSI ? ta.rma(rsi, maLengthRMA) : na
wma_val = showWMAsmooth and isRSI ? ta.wma(rsi, maLengthWMA) : na
vwma_val = showVWMAsmooth and isRSI ? ta.vwma(rsi, maLengthVWMA) : na
smoothingStDev = showBB and isRSI ? ta.stdev(rsi, maLengthSMA) * bbMultInput : na
// Smoothing MA plots
plot(sma_val, "RSI-based SMA", color=(showSMA or showBB) ? color.yellow : na, display=(showSMA or showBB) ? display.all : display.none, editable=(showSMA or showBB))
plot(ema_val, "RSI-based EMA", color=showEMA ? color.purple : na, display=showEMA ? display.all : display.none, editable=showEMA)
plot(rma_val, "RSI-based RMA", color=showRMA ? color.red : na, display=showRMA ? display.all : display.none, editable=showRMA)
plot(wma_val, "RSI-based WMA", color=showWMAsmooth ? color.blue : na, display=showWMAsmooth ? display.all : display.none, editable=showWMAsmooth)
plot(vwma_val, "RSI-based VWMA", color=showVWMAsmooth ? color.orange : na, display=showVWMAsmooth ? display.all : display.none, editable=showVWMAsmooth)
bbUpperBand = plot(showBB ? sma_val + smoothingStDev : na, title="Upper Bollinger Band", color=showBB ? color.green : na, display=showBB ? display.all : display.none, editable=showBB)
bbLowerBand = plot(showBB ? sma_val - smoothingStDev : na, title="Lower Bollinger Band", color=showBB ? color.green : na, display=showBB ? display.all : display.none, editable=showBB)
fill(bbUpperBand, bbLowerBand, color=showBB ? color.new(color.green, 90) : na, title="Bollinger Bands Background Fill", display=showBB ? display.all : display.none, editable=showBB)
// Divergence Settings
divGroup = "Divergence Settings"
calculateDivergence = input.bool(true, title="Calculate Divergence", group=divGroup, tooltip = "Calculating divergences is needed in order for divergence alerts to fire.")
lookbackLeft = input.int(5, "Pivot Lookback Left", minval=1, group=divGroup)
lookbackRight = input.int(5, "Pivot Lookback Right", minval=1, group=divGroup)
rangeLower = input.int(5, "Min Range for Divergence", minval=0, group=divGroup)
rangeUpper = input.int(60, "Max Range for Divergence", minval=1, group=divGroup)
showHidden = input.bool(true, "Show Hidden Divergences", group=divGroup)
bearColor = color.red
bullColor = color.green
textColor = color.white
noneColor = color.new(color.white, 100)
_inRange(cond) =>
bars = ta.barssince(cond)
rangeLower <= bars and bars <= rangeUpper
bool plFound = false
bool phFound = false
bool bullCond = false
bool bearCond = false
bool hiddenBullCond = false
bool hiddenBearCond = false
float oscLBR = na
float lowLBR = na
float highLBR = na
float prevPlOsc = na
float prevPlLow = na
float prevPhOsc = na
float prevPhHigh = na
if calculateDivergence
plFound := not na(ta.pivotlow(osc, lookbackLeft, lookbackRight))
phFound := not na(ta.pivothigh(osc, lookbackLeft, lookbackRight))
oscLBR := osc
lowLBR := low
highLBR := high
prevPlOsc := ta.valuewhen(plFound, oscLBR, 1)
prevPlLow := ta.valuewhen(plFound, lowLBR, 1)
prevPhOsc := ta.valuewhen(phFound, oscLBR, 1)
prevPhHigh := ta.valuewhen(phFound, highLBR, 1)
// Regular Bullish
oscHL = oscLBR > prevPlOsc and _inRange(plFound )
priceLL = lowLBR < prevPlLow
bullCond := priceLL and oscHL and plFound
// Regular Bearish
oscLL = oscLBR < prevPhOsc and _inRange(phFound )
priceHH = highLBR > prevPhHigh
bearCond := priceHH and oscLL and phFound
// Hidden Bullish
oscLL_hidden = oscLBR < prevPlOsc and _inRange(plFound )
priceHL = lowLBR > prevPlLow
hiddenBullCond := priceHL and oscLL_hidden and plFound and showHidden
// Hidden Bearish
oscHH_hidden = oscLBR > prevPhOsc and _inRange(phFound )
priceLH = highLBR < prevPhHigh
hiddenBearCond := priceLH and oscHH_hidden and phFound and showHidden
// Plot divergences (lines and labels on pane)
if bullCond
leftBar = ta.valuewhen(plFound, bar_index , 1)
line.new(leftBar, prevPlOsc, bar_index , oscLBR, xloc=xloc.bar_index, color=bullColor, width=2)
label.new(bar_index , oscLBR, "R Bull", style=label.style_label_up, color=noneColor, textcolor=textColor)
if bearCond
leftBar = ta.valuewhen(phFound, bar_index , 1)
line.new(leftBar, prevPhOsc, bar_index , oscLBR, xloc=xloc.bar_index, color=bearColor, width=2)
label.new(bar_index , oscLBR, "R Bear", style=label.style_label_down, color=noneColor, textcolor=textColor)
if hiddenBullCond
leftBar = ta.valuewhen(plFound, bar_index , 1)
line.new(leftBar, prevPlOsc, bar_index , oscLBR, xloc=xloc.bar_index, color=bullColor, width=2, style=line.style_dashed)
label.new(bar_index , oscLBR, "H Bull", style=label.style_label_up, color=noneColor, textcolor=textColor)
if hiddenBearCond
leftBar = ta.valuewhen(phFound, bar_index , 1)
line.new(leftBar, prevPhOsc, bar_index , oscLBR, xloc=xloc.bar_index, color=bearColor, width=2, style=line.style_dashed)
label.new(bar_index , oscLBR, "H Bear", style=label.style_label_down, color=noneColor, textcolor=textColor)
// Alert conditions
alertcondition(bullCond, title="Regular Bullish Divergence", message="Found a new Regular Bullish Divergence, Pivot Lookback Right number of bars to the left of the current bar.")
alertcondition(bearCond, title="Regular Bearish Divergence", message="Found a new Regular Bearish Divergence, Pivot Lookback Right number of bars to the left of the current bar.")
alertcondition(hiddenBullCond, title="Hidden Bullish Divergence", message="Found a new Hidden Bullish Divergence, Pivot Lookback Right number of bars to the left of the current bar.")
alertcondition(hiddenBearCond, title="Hidden Bearish Divergence", message="Found a new Hidden Bearish Divergence, Pivot Lookback Right number of bars to the left of the current bar.")
RSI WMA VWMA Divergence Indicator//@version=6
indicator(title="RSI WMA VWMA Divergence Indicator", shorttitle="Osc Div", format=format.price, precision=2)
oscType = input.string("RSI", "Oscillator Type", options = , group="General Settings")
// RSI Settings
rsiGroup = "RSI Settings"
rsiLengthInput = input.int(14, minval=1, title="RSI Length", group=rsiGroup)
rsiSourceInput = input.source(close, "Source", group=rsiGroup)
// WMA VWMA
wma9 = ta.wma(close, 9)
vwma3 = ta.vwma(close, 3)
useVWMA = input.bool(true, "Use VWMA3 for Divergence (when WMA9 + VWMA3 mode)", group="WMA Settings")
// Oscillator selection
rsi = ta.rsi(rsiSourceInput, rsiLengthInput) // Calculate RSI always, but use conditionally
osc = oscType == "RSI" ? rsi : useVWMA ? vwma3 : wma9
// RSI plots (conditional)
isRSI = oscType == "RSI"
rsiPlot = plot(isRSI ? rsi : na, "RSI", color=isRSI ? #7E57C2 : na)
rsiUpperBand = hline(isRSI ? 70 : na, "RSI Upper Band", color=isRSI ? #787B86 : na)
midline = hline(isRSI ? 50 : na, "RSI Middle Band", color=isRSI ? color.new(#787B86, 50) : na)
rsiLowerBand = hline(isRSI ? 30 : na, "RSI Lower Band", color=isRSI ? #787B86 : na)
fill(rsiUpperBand, rsiLowerBand, color=isRSI ? color.rgb(126, 87, 194, 90) : na, title="RSI Background Fill")
midLinePlot = plot(isRSI ? 50 : na, color = na, editable = false, display = display.none)
fill(rsiPlot, midLinePlot, 100, 70, top_color = isRSI ? color.new(color.green, 0) : na, bottom_color = isRSI ? color.new(color.green, 100) : na, title = "Overbought Gradient Fill")
fill(rsiPlot, midLinePlot, 30, 0, top_color = isRSI ? color.new(color.red, 100) : na, bottom_color = isRSI ? color.new(color.red, 0) : na, title = "Oversold Gradient Fill")
// WMA VWMA plots
plot(oscType != "RSI" ? wma9 : na, "WMA9", color=oscType != "RSI" ? color.blue : na)
plot(oscType != "RSI" ? vwma3 : na, "VWMA3", color=oscType != "RSI" ? color.orange : na)
// Smoothing MA inputs (only for RSI)
GRP = "Smoothing (RSI only)"
TT_BB = "Only applies when 'SMA + Bollinger Bands' is selected. Determines the distance between the SMA and the bands."
maTypeInput = input.string("SMA", "Type", options = , group = GRP, display = display.data_window)
maLengthInput = input.int(14, "Length", group = GRP, display = display.data_window)
bbMultInput = input.float(2.0, "BB StdDev", minval = 0.001, maxval = 50, step = 0.5, tooltip = TT_BB, group = GRP, display = display.data_window)
enableMA = maTypeInput != "None" and oscType == "RSI"
isBB = maTypeInput == "SMA + Bollinger Bands" and oscType == "RSI"
// Smoothing MA Calculation
ma(source, length, MAtype) =>
switch MAtype
"SMA" => ta.sma(source, length)
"SMA + Bollinger Bands" => ta.sma(source, length)
"EMA" => ta.ema(source, length)
"SMMA (RMA)" => ta.rma(source, length)
"WMA" => ta.wma(source, length)
"VWMA" => ta.vwma(source, length)
// Smoothing MA plots
smoothingMA = enableMA ? ma(rsi, maLengthInput, maTypeInput) : na
smoothingStDev = isBB ? ta.stdev(rsi, maLengthInput) * bbMultInput : na
plot(smoothingMA, "RSI-based MA", color=enableMA ? color.yellow : na, display = enableMA ? display.all : display.none, editable = enableMA)
bbUpperBand = plot(isBB ? smoothingMA + smoothingStDev : na, title = "Upper Bollinger Band", color=isBB ? color.green : na, display = isBB ? display.all : display.none, editable = isBB)
bbLowerBand = plot(isBB ? smoothingMA - smoothingStDev : na, title = "Lower Bollinger Band", color=isBB ? color.green : na, display = isBB ? display.all : display.none, editable = isBB)
fill(bbUpperBand, bbLowerBand, color= isBB ? color.new(color.green, 90) : na, title="Bollinger Bands Background Fill", display = isBB ? display.all : display.none, editable = isBB)
// Divergence Settings
divGroup = "Divergence Settings"
calculateDivergence = input.bool(true, title="Calculate Divergence", group=divGroup, tooltip = "Calculating divergences is needed in order for divergence alerts to fire.")
lookbackLeft = input.int(5, "Pivot Lookback Left", minval=1, group=divGroup)
lookbackRight = input.int(5, "Pivot Lookback Right", minval=1, group=divGroup)
rangeLower = input.int(5, "Min Range for Divergence", minval=0, group=divGroup)
rangeUpper = input.int(60, "Max Range for Divergence", minval=1, group=divGroup)
showHidden = input.bool(true, "Show Hidden Divergences", group=divGroup)
bearColor = color.red
bullColor = color.green
textColor = color.white
noneColor = color.new(color.white, 100)
_inRange(cond) =>
bars = ta.barssince(cond)
rangeLower <= bars and bars <= rangeUpper
bool plFound = false
bool phFound = false
bool bullCond = false
bool bearCond = false
bool hiddenBullCond = false
bool hiddenBearCond = false
float oscLBR = na
float lowLBR = na
float highLBR = na
float prevPlOsc = na
float prevPlLow = na
float prevPhOsc = na
float prevPhHigh = na
if calculateDivergence
plFound := not na(ta.pivotlow(osc, lookbackLeft, lookbackRight))
phFound := not na(ta.pivothigh(osc, lookbackLeft, lookbackRight))
oscLBR := osc
lowLBR := low
highLBR := high
prevPlOsc := ta.valuewhen(plFound, oscLBR, 1)
prevPlLow := ta.valuewhen(plFound, lowLBR, 1)
prevPhOsc := ta.valuewhen(phFound, oscLBR, 1)
prevPhHigh := ta.valuewhen(phFound, highLBR, 1)
// Regular Bullish
oscHL = oscLBR > prevPlOsc and _inRange(plFound )
priceLL = lowLBR < prevPlLow
bullCond := priceLL and oscHL and plFound
// Regular Bearish
oscLL = oscLBR < prevPhOsc and _inRange(phFound )
priceHH = highLBR > prevPhHigh
bearCond := priceHH and oscLL and phFound
// Hidden Bullish
oscLL_hidden = oscLBR < prevPlOsc and _inRange(plFound )
priceHL = lowLBR > prevPlLow
hiddenBullCond := priceHL and oscLL_hidden and plFound and showHidden
// Hidden Bearish
oscHH_hidden = oscLBR > prevPhOsc and _inRange(phFound )
priceLH = highLBR < prevPhHigh
hiddenBearCond := priceLH and oscHH_hidden and phFound and showHidden
// Plot divergences (lines and labels on pane)
if bullCond
leftBar = ta.valuewhen(plFound, bar_index , 1)
line.new(leftBar, prevPlOsc, bar_index , oscLBR, xloc=xloc.bar_index, color=bullColor, width=2)
label.new(bar_index , oscLBR, "R Bull", style=label.style_label_up, color=noneColor, textcolor=textColor)
if bearCond
leftBar = ta.valuewhen(phFound, bar_index , 1)
line.new(leftBar, prevPhOsc, bar_index , oscLBR, xloc=xloc.bar_index, color=bearColor, width=2)
label.new(bar_index , oscLBR, "R Bear", style=label.style_label_down, color=noneColor, textcolor=textColor)
if hiddenBullCond
leftBar = ta.valuewhen(plFound, bar_index , 1)
line.new(leftBar, prevPlOsc, bar_index , oscLBR, xloc=xloc.bar_index, color=bullColor, width=2, style=line.style_dashed)
label.new(bar_index , oscLBR, "H Bull", style=label.style_label_up, color=noneColor, textcolor=textColor)
if hiddenBearCond
leftBar = ta.valuewhen(phFound, bar_index , 1)
line.new(leftBar, prevPhOsc, bar_index , oscLBR, xloc=xloc.bar_index, color=bearColor, width=2, style=line.style_dashed)
label.new(bar_index , oscLBR, "H Bear", style=label.style_label_down, color=noneColor, textcolor=textColor)
// Alert conditions
alertcondition(bullCond, title="Regular Bullish Divergence", message="Found a new Regular Bullish Divergence, Pivot Lookback Right number of bars to the left of the current bar.")
alertcondition(bearCond, title="Regular Bearish Divergence", message="Found a new Regular Bearish Divergence, Pivot Lookback Right number of bars to the left of the current bar.")
alertcondition(hiddenBullCond, title="Hidden Bullish Divergence", message="Found a new Hidden Bullish Divergence, Pivot Lookback Right number of bars to the left of the current bar.")
alertcondition(hiddenBearCond, title="Hidden Bearish Divergence", message="Found a new Hidden Bearish Divergence, Pivot Lookback Right number of bars to the left of the current bar.")
Multiple (12) Strong Buy/Sell Signals + Momentum
Indicator Manual: "Multiple (12) Strong Buy/Sell Signals + Momentum"
This indicator is designed to identify strong buy and sell signals based on 12 configurable conditions, which include a variety of technical analysis methods such as trend-following indicators, pattern recognition, volume analysis, and momentum oscillators. It allows for customizable alerts and visual cues on the chart. The indicator helps traders spot potential entry and exit points by displaying buy and sell signals based on the selected conditions.
Key Observations:
• The script integrates multiple indicators and pattern recognition methods to provide comprehensive buy/sell signals.
• Trend-based indicators like EMAs and MACD are combined with pattern recognition (flags, triangles) and momentum-based signals (RSI, ADX, and volume analysis).
• User customization is a core feature, allowing adjustments to the conditions and thresholds for more tailored signals.
• The script is designed to be responsive to market conditions, with multiple conditions filtering out noise to generate reliable signals.
________________________________________
Key Features:
1. 12 Combined Buy/Sell Signal Conditions: This indicator incorporates a diverse set of conditions based on trend analysis, momentum, and price patterns.
2. Minimum Conditions Input: You can adjust the threshold of conditions that need to be met for the buy/sell signals to appear.
3. Alert Customization: Set alert thresholds for both buy and sell signals.
4. Dynamic Visualization: Buy and sell signals are shown as triangles on the chart, with momentum signals highlighted as circles.
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Detailed Description of the 12 Conditions:
1. Exponential Moving Averages (EMA):
o Conditions: The indicator uses EMAs with periods 3, 8, and 13 for quick trend-following signals.
o Bullish Signal: EMA3 > EMA8 > EMA13 (Bullish stack).
o Bearish Signal: EMA3 < EMA8 < EMA13 (Bearish stack).
o Reversal Signal: The crossing over or under of these EMAs can signify trend reversals.
2. MACD (Moving Average Convergence Divergence):
o Fast MACD (2, 7, 3) is used to confirm trends quickly.
o Bullish Signal: When the MACD line crosses above the signal line.
o Bearish Signal: When the MACD line crosses below the signal line.
3. Donchian Channel:
o Tracks the highest high and lowest low over a given period (default 20).
o Breakout Signal: Price breaking above the upper band is bullish; breaking below the lower band is bearish.
4. VWAP (Volume-Weighted Average Price):
o Above VWAP: Bullish condition (price above VWAP).
o Below VWAP: Bearish condition (price below VWAP).
5. EMA Stacking & Reversal:
o Tracks the order of EMAs (3, 8, 13) to confirm strong trends and reversals.
o Bullish Reversal: EMA3 < EMA8 < EMA13 followed by a crossing to bullish.
o Bearish Reversal: EMA3 > EMA8 > EMA13 followed by a crossing to bearish.
6. Bull/Bear Flags:
o Bull Flag: Characterized by a strong price movement (flagpole) followed by a pullback and breakout.
o Bear Flag: Similar to Bull Flag but in the opposite direction.
7. Triangle Patterns (Ascending and Descending):
o Detects ascending and descending triangles using pivot highs and lows.
o Ascending Triangle: Higher lows and flat resistance.
o Descending Triangle: Lower highs and flat support.
8. Volume Sensitivity:
o Identifies price moves with significant volume increases.
o High Volume: When current volume is significantly above the moving average volume (set to 1.2x of the average).
9. Momentum Indicators:
o RSI (Relative Strength Index): Confirms overbought and oversold levels with thresholds set at 65 (overbought) and 35 (oversold).
o ADX (Average Directional Index): Confirms strong trends when ADX > 28.
o Momentum Up: Momentum is upward with strong volume and bullish RSI/ADX conditions.
o Momentum Down: Momentum is downward with strong volume and bearish RSI/ADX conditions.
10. Bollinger & Keltner Squeeze:
o Squeeze Condition: A contraction in both Bollinger Bands and Keltner Channels indicates low volatility, signaling a potential breakout.
o Squeeze Breakout: Price breaking above or below the squeeze bands.
11. 3 Consecutive Candles Condition:
o Bullish: Price rises for three consecutive candles with higher highs and lows.
o Bearish: Price falls for three consecutive candles with lower highs and lows.
12. Williams %R and Stochastic RSI:
o Williams %R: A momentum oscillator with signals when the line crosses certain levels.
o Stochastic RSI: Provides overbought/oversold levels with smoother signals.
o Combined Signals: You can choose whether to require both WPR and StochRSI to signal a buy/sell.
________________________________________
User Inputs (Inputs Tab):
1. Minimum Conditions for Buy/Sell:
o min_conditions: Number of conditions required to trigger a buy/sell signal on the chart (1 to 12).
o Alert_min_conditions: User-defined alert threshold (how many conditions must be met before an alert is triggered).
2. Donchian Channel Settings:
o Show Donchian: Toggle visibility of the Donchian channel.
o Donchian Length: The length of the Donchian Channel (default 20).
3. Bull/Bear Flag Settings:
o Bull Flag Flagpole Strength: ATR multiplier to define the strength of the flagpole.
o Bull Flag Pullback Length: Length of pullback for the bull flag pattern.
o Bull Flag EMA Length: EMA length used to confirm trend during bull flag pattern.
Similar settings exist for Bear Flag patterns.
4. Momentum Indicators:
o RSI Length: Period for calculating the RSI (default 9).
o RSI Overbought: Overbought threshold for the RSI (default 65).
o RSI Oversold: Oversold threshold for the RSI (default 35).
5. Bollinger/Keltner Squeeze Settings:
o Squeeze Width Threshold: The maximum width of the Bollinger and Keltner Bands for squeeze conditions.
6. Stochastic RSI Settings:
o Stochastic RSI Length: The period for calculating the Stochastic RSI.
7. WPR Settings:
o WPR Length: Period for calculating Williams %R (default 14).
________________________________________
User Inputs (Style Tab):
1. Signal Plotting:
o Control the display and colors of the buy/sell signals, momentum indicators, and pattern signals on the chart.
o Buy/Sell Signals: Can be customized with different colors and shapes (triangle up for buys, triangle down for sells).
o Momentum Signals: Custom circle placement for momentum-up or momentum-down signals.
2. Donchian Channel:
o Show Donchian: Toggle visibility of the Donchian upper, lower, and middle bands.
o Band Colors: Choose the color for each band (upper, lower, middle).
________________________________________
How to Use the Indicator:
1. Adjust Minimum Conditions: Set the minimum number of conditions that must be met for a signal to appear. For example, set it to 5 if you want only stronger signals.
2. Set Alert Threshold: Define the number of conditions needed to trigger an alert. This can be different from the minimum conditions for visual signals.
3. Customize Appearance: Modify the colors and styles of the signals to match your preferences.
________________________________________
Conclusion:
This comprehensive trading indicator uses a combination of trend-following, pattern recognition, and momentum-based conditions to help you spot potential buy and sell opportunities. By adjusting the input settings, you can fine-tune it to match your specific trading strategy, making it a versatile tool for different market conditions.
Signal Reliability Based on Condition Count
The reliability of the buy/sell signals increases as more conditions are met. Here's a breakdown of the probabilities:
1. 1-3 Conditions Met: Lower Probability
o Signals that meet only 1-3 conditions tend to have lower reliability and are considered less probable. These signals may represent false positives or weaker market movements, and traders should approach them with caution.
2. 4 Conditions Met: More Reliable Signal
o When 4 conditions are met, the signal becomes more reliable. This indicates that multiple indicators or market patterns are aligning, increasing the likelihood of a valid buy/sell opportunity. While not foolproof, it's a stronger indication that the market may be moving in a particular direction.
3. 5-6 Conditions Met: Strong Signal
o A signal meeting 5-6 conditions is considered a strong signal. This indicates a well-confirmed move, with several technical indicators and market factors aligning to suggest a higher probability of success. These are the signals that traders often prioritize.
4. 7+ Conditions Met: Rare and High-Confidence Signal
o Signals that meet 7 or more conditions are rare and should be considered high-confidence signals. These represent a significant alignment of multiple factors, and while they are less frequent, they are highly reliable when they do occur. Traders can be more confident in acting on these signals, but they should still monitor market conditions for confirmation.
________________________________________
You can adjust the number of conditions as needed, but this breakdown should give a clear structure on how the signal strength correlates with the number of conditions met!
BTC Markup/Markdown Zones by Koenigsegg📈 BTC Markup/Markdown Zones
A handcrafted indicator designed to mark Bitcoin's most critical High Time Frame (HTF) structure shifts. This tool overlays true institutional-level Markup and Markdown Zones, selected manually after deep market review. Whether you're testing strategies or actively trading, this tool gives you the bigger picture at all times.
🔍 Key Features:
✅ HTF Markup & Markdown Zones
Every zone is manually selected — no indicators, no repainting. Just raw market history and real structure.
✅ Two Display Modes
• Background Zones — soft overlays with low opacity for visual context — with the option to increase opacity manually if desired.
• Start Candle Highlight — sharply highlighted candle marking the final pivot before a macro reversal.
✅ Custom Color Controls (Style Tab)
All visual styling lives in the Style tab, with clearly labeled fields:
• Markup Zone
• Markdown Zone
• Start Candle Highlight Markup
• Start Candle Highlight Markdown
✅ Minimal Input Section
Just one toggle: display mode. Everything else is kept clean and intuitive.
🧠 Purpose:
This script is made for any timeframe:
• Zoom into lower timeframes to know whether you're trading inside a Markup or Markdown
• Use it during strategy testing for true structural awareness
📅 Handpicked Macro Turning Points:
Each zone originates from a manually confirmed candle — the last meaningful candle before a shift in control between bulls and bears:
• FRI 19 AUG 2011 12PM – MARK DOWN
• THU 20 OCT 2011 12AM – MARK UP
• WED 10 APR 2013 12PM – MARK DOWN
• FRI 12 APR 2013 12PM – MARK UP
• SAT 30 NOV 2013 12AM – MARK DOWN
• WED 14 JAN 2015 12PM – MARK UP
• SUN 17 DEC 2017 12PM – MARK DOWN
• SAT 15 DEC 2018 12PM – MARK UP
• WED 14 APR 2021 4AM – MARK DOWN
• TUE 22 JUN 2021 12PM – MARK UP
• WED 10 NOV 2021 12PM – MARK DOWN
• MON 21 NOV 2022 8PM – MARK UP
• THU 14 MAR 2024 4AM – MARK DOWN
• MON 5 AUG 2024 12PM – MARK UP
• MON 20 JAN 2025 4AM – MARK DOWN
💡 Zones are manually updated by me after each new confirmed Markup or Markdown.
🧬 Fractal Structure for MTF Systems
Price is fractal — meaning the same principles of structure repeat across all timeframes. In Version 2, this tool evolves by introducing manually selected sub-zones inside each High Time Frame (HTF) Markup or Markdown. These sub-zones reflect Medium Timeframe (MTF) structure shifts, offering precision for traders who operate on both intraday and swing levels.
This makes the indicator ideal for low timeframe (LTF) Markup/Markdown awareness — whether you're managing 15m entries or building multi-timeframe confluence systems.
No auto-zones. No guesswork. Just clean, intentional structure division within the broader trend, handpicked for maximum clarity and edge.
💡 Pro Tip:
When price is inside a Markup Zone, shorting becomes riskier — you're trading against a macro bullish structure.
When inside a Markdown Zone, longing becomes riskier — you're fighting against confirmed bearish momentum.
Use this tool to stay aligned with the broader move, especially when zoomed into smaller timeframes or managing entries/exits during intraday setups.
📈 Markup Phase – Bullish Sentiment
Definition: A period where price makes higher highs and higher lows — the uptrend is in full force.
Why sentiment is bullish:
- Institutions and smart money are already positioned long.
- Public/institutional demand drives prices up.
- Momentum is supported by positive news, breakouts, and FOMO.
- Higher highs confirm buyers are in control.
📉 Markdown Phase – Bearish Sentiment
Definition: A period where price makes lower lows and lower highs — clear downtrend.
Why sentiment is bearish:
- Distribution has already occurred, and supply outweighs demand.
- Smart money is short or sidelined, waiting for deeper prices.
- Panic selling or trend-following traders add downside momentum.
- Lower lows confirm sellers are in control.
❌ Trading Against the Trend — Consequences:
-Reduced Probability of Success
-You’re fighting the dominant flow. Most participants are pushing in the opposite direction.
-Drawdowns & Stop-Outs
-Countertrend trades often get wicked or flushed before any meaningful move, especially without structure-based entries.
-Low Risk-Reward Ratio
-Trends offer sustained moves. Countertrend trades may have small take-profit zones or chop.
-Mental Drain & Doubt
-Fighting momentum causes anxiety, second-guessing, and emotional reactions.
-Missed Opportunities
-Focusing on fighting the trend makes you blind to the high-probability setups with the trend.
-Increased Transaction Costs
-More stop-outs and re-entries mean more fees, more friction.
-FOMO from Watching the Trend Run
-Entering countertrend means you might watch the trend explode without you.
-Confirmation Bias & Stubbornness
-Countertrend traders often look for reasons to justify staying in the wrong direction — leading to bigger losses.
🧠 Summary
In markup = bulls dominate → you swim with the current.
In markdown = bears dominate → going long is like pushing a rock uphill.
Trading with the trend is not just safer, it's smarter. The edge lives in momentum — not ego.
⚠️ Disclaimer
This indicator is for educational and analytical use only. It is not financial advice and should not be relied on for decision-making without personal analysis.
This is not a predictive tool. No indicator can forecast upcoming price movements.
What you see here is based purely on past market behavior — specifically, historical tops and bottoms that marked the start of confirmed reversals.
This script does not know where the next reversal begins, nor can it determine where a new Markup or Markdown starts or ends. It is designed to provide context, not prediction.
Always trade with responsibility and perform your own due diligence.
Defensive Nexus ShieldIndicator: Defensive Nexus Shield , capturing profits in the breakout trend.
Defensive Nexus Shield is a trend signal and support resistance display. Identify the short-term bullish and bearish defensive area through the effective extreme value of bulls and bears, and trigger trading opportunities when there are characteristics of breaking through the defensive area.
Usage：
Signal direction: "B" means that the bulls attacked and the bears failed, and entered a bullish trend. "S" means that the bears attacked and the bulls failed, entering a bearish trend.
Defense point of bulls and bears: "Blue line" represents the bearish defense line. The "green line" represents the bullish defensive line. The "purple line" represents the junction of bulls and bears.
Tip I：
Trend signal. When the signal "B" appears, it means that the bulls are attacking, and the market is bullish. Please refer to the signal for corresponding operations.
Tip II：
Breakout signal. After the trend signal appears, if the trend is confirmed, it will continue to enter the breakthrough signal.
Take the bull signal as an example. When B appears, the price continues to rise and breaks through the blue line, the bearish defense line, which triggers the bullish breakthrough signal. At this time, the bulls will strengthen. Provide signal reference for traders who do short-term breakthrough transactions.
*The signals in the indicators are for reference only and not intended as investment advice. Past performance of a strategy is not indicative of future earnings results.
Update - 2023.09.05
Optimize the alarm function. If you need to monitor the "B" or "S" signal, when creating an alarm, set the condition bar to:
Defensive Nexus Shield --> "B" or "S" --> Crossing Up --> value -> 0.5
AI Momentum [YinYang]Overview:
AI Momentum is a kernel function based momentum Indicator. It uses Rational Quadratics to help smooth out the Moving Averages, this may give them a more accurate result. This Indicator has 2 main uses, first it displays ‘Zones’ that help you visualize the potential movement areas and when the price is out of bounds (Overvalued or Undervalued). Secondly it creates signals that display the momentum of the current trend.
The Zones are composed of the Highest Highs and Lowest lows turned into a Rational Quadratic over varying lengths. These create our Rational High and Low zones. There is however a second zone. The second zone is composed of the avg of the Inner High and Inner Low zones (yellow line) and the Rational Quadratic of the current Close. This helps to create a second zone that is within the High and Low bounds that may represent momentum changes within these zones. When the Rationalized Close crosses above the High and Low Zone Average it may signify a bullish momentum change and vice versa when it crosses below.
There are 3 different signals created to display momentum:
Bullish and Bearish Momentum. These signals display when there is current bullish or bearish momentum happening within the trend. When the momentum changes there will likely be a lull where there are neither Bullish or Bearish momentum signals. These signals may be useful to help visualize when the momentum has started and stopped for both the bulls and the bears. Bullish Momentum is calculated by checking if the Rational Quadratic Close > Rational Quadratic of the Highest OHLC4 smoothed over a VWMA. The Bearish Momentum is calculated by checking the opposite.
Overly Bullish and Bearish Momentum. These signals occur when the bar has Bullish or Bearish Momentum and also has an Rationalized RSI greater or less than a certain level. Bullish is >= 57 and Bearish is <= 43. There is also the option to ‘Factor Volume’ into these signals. This means, the Overly Bullish and Bearish Signals will only occur when the Rationalized Volume > VWMA Rationalized Volume as well as the previously mentioned factors above. This can be useful for removing ‘clutter’ as volume may dictate when these momentum changes will occur, but it can also remove some of the useful signals and you may miss the swing too if the volume just was low. Overly Bullish and Bearish Momentum may dictate when a momentum change will occur. Remember, they are OVERLY Bullish and Bearish, meaning there is a chance a correction may occur around these signals.
Bull and Bear Crosses. These signals occur when the Rationalized Close crosses the Gaussian Close that is 2 bars back. These signals may show when there is a strong change in momentum, but be careful as more often than not they’re predicting that the momentum may change in the opposite direction.
Tutorial:
As we can see in the example above, generally what happens is we get the regular Bullish or Bearish momentum, followed by the Rationalized Close crossing the Zone average and finally the Overly Bullish or Bearish signals. This is normally the order of operations but isn’t always how it happens as sometimes momentum changes don’t make it that far; also the Rationalized Close and Zone Average don’t follow any of the same math as the Signals which can result in differing appearances. The Bull and Bear Crosses are also quite sporadic in appearance and don’t generally follow any sort of order of operations. However, they may occur as a Predictor between Bullish and Bearish momentum, signifying the beginning of the momentum change.
The Bull and Bear crosses may be a Predictor of momentum change. They generally happen when there is no Bullish or Bearish momentum happening; and this helps to add strength to their prediction. When they occur during momentum (orange circle) there is a less likely chance that it will happen, and may instead signify the exact opposite; it may help predict a large spike in momentum in the direction of the Bullish or Bearish momentum. In the case of the orange circle, there is currently Bearish Momentum and therefore the Bull Cross may help predict a large momentum movement is about to occur in favor of the Bears.
We have disabled signals here to properly display and talk about the zones. As you can see, Rationalizing the Highest Highs and Lowest Lows over 2 different lengths creates inner and outer bounds that help to predict where parabolic movement and momentum may move to. Our Inner and Outer zones are great for seeing potential Support and Resistance locations.
The secondary zone, which can cross over and change from Green to Red is also a very important zone. Let's zoom in and talk about it specifically.
The Middle Zone Crosses may help deduce where parabolic movement and strong momentum changes may occur. Generally what may happen is when the cross occurs, you will see parabolic movement to the High / Low zones. This may be the Inner zone but can sometimes be the outer zone too. The hard part is sometimes it can be a Fakeout, like displayed with the Blue Circle. The Cross doesn’t mean it may move to the opposing side, sometimes it may just be predicting Parabolic movement in a general sense.
When we turn the Momentum Signals back on, we can see where the Fakeout occurred that it not only almost hit the Inner Low Zone but it also exhibited 2 Overly Bearish Signals. Remember, Overly bearish signals mean a momentum change in favor of the Bulls may occur soon and overly Bullish signals mean a momentum change in favor of the Bears may occur soon.
You may be wondering, well what does “may occur soon” mean and how do we tell?
The purpose of the momentum signals is not only to let you know when Momentum has occurred and when it is still prevalent. It also matters A LOT when it has STOPPED!
In this example above, we look at when the Overly Bullish and Bearish Momentum has STOPPED. As you can see, when the Overly Bullish or Bearish Momentum stopped may be a strong predictor of potential momentum change in the opposing direction.
We will conclude our Tutorial here, hopefully this Indicator has been helpful for showing you where momentum is occurring and help predict how far it may move. We have been dabbling with and are planning on releasing a Strategy based on this Indicator shortly.
Settings:
1. Momentum:
Show Signals: Sometimes it can be difficult to visualize the zones with signals enabled.
Factor Volume: Factor Volume only applies to Overly Bullish and Bearish Signals. It's when the Volume is > VWMA Volume over the Smoothing Length.
Zone Inside Length: The Zone Inside is the Inner zone of the High and Low. This is the length used to create it.
Zone Outside Length: The Zone Outside is the Outer zone of the High and Low. This is the length used to create it.
Smoothing length: Smoothing length is the length used to smooth out our Bullish and Bearish signals, along with our Overly Bullish and Overly Bearish Signals.
2. Kernel Settings:
Lookback Window: The number of bars used for the estimation. This is a sliding value that represents the most recent historical bars. Recommended range: 3-50.
Relative Weighting: Relative weighting of time frames. As this value approaches zero, the longer time frames will exert more influence on the estimation. As this value approaches infinity, the behavior of the Rational Quadratic Kernel will become identical to the Gaussian kernel. Recommended range: 0.25-25.
Start Regression at Bar: Bar index on which to start regression. The first bars of a chart are often highly volatile, and omission of these initial bars often leads to a better overall fit. Recommended range: 5-25.
If you have any questions, comments, ideas or concerns please don't hesitate to contact us.
HAPPY TRADING!
Bar metrics / quantifytools— Overview
Rather than eyeball evaluating bullishness/bearishness in any given bar, bar metrics allow a quantified approach using three basic fundamental data points: relative close, relative volatility and relative volume. These data points are visualized in a discreet data dashboard form, next to all real-time bars. Each value also has a dot in front, representing color coded extremes in the values.
Relative close represents position of bar's close relative to high and low, high of bar being 100% and low of bar being 0%. Relative close indicates strength of bulls/bears in a given bar, the higher the better for bulls, the lower the better for bears. Relative volatility (bar range, high - low) and relative volume are presented in a form of a multiplier, relative to their respective moving averages (SMA 20). A value of 1x indicates volume/volatility being on par with moving average, 2x indicates volume/volatility being twice as much as moving average and so on. Relative volume and volatility can be used for measuring general market participant interest, the "weight of the bar" as it were.
— Features
Users can gauge past bar metrics using lookback via input menu. Past bars, especially recent ones, are helpful for giving context for current bar metrics. Lookback bars are highlighted on the chart using a yellow box and metrics presented on the data dashboard with lookback symbols:
To inspect bar metric data and its implications, users can highlight bars with specified bracket values for each metric:
When bar highlighter is toggled on and desired bar metric values set, alert for the specified combination can be toggled on via alert menu. Note that bar highlighter must be enabled in order for alerts to function.
— Visuals
Bar metric dots are gradient colored the following way:
Relative volatility & volume
0x -> 1x / Neutral (white) -> Light (yellow)
1x -> 1.7x / Light (yellow) -> Medium (orange)
1.7x -> 2.4x / Medium (orange) -> Heavy (red)
Relative close
0% -> 25% / Heavy bearish (red) -> Light bearish (dark red)
25% -> 45% / Light bearish (dark red) -> Neutral (white)
45% - 55% / Neutral (white)
55% -> 75% / Neutral (white) -> Light bullish (dark green)
75% -> 100% / Light bullish (dark green) -> Heavy bullish (green)
All colors can be adjusted via input menu. Label size, label distance from bar (offset) and text format (regular/stealth) can be adjusted via input menu as well:
— Practical guide
As interpretation of bar metrics is highly contextual, it is especially important to use other means in conjunction with the metrics. Levels, oscillators, moving averages, whatever you have found useful for your process. In short, relative close indicates directional bias and relative volume/volatility indicates "weight" of directional bias.
General interpretation
High relative close, low relative volume/volatility = mildly bullish, bias up/consolidation
High relative close, medium relative volume/volatility = bullish, bias up
High relative close, high relative volume/volatility = exuberantly bullish, bias up/down depending on context
Medium relative close, low relative volume/volatility = noise, no bias
Medium relative close, medium to high relative volume/volatility = indecision, further evidence needed to evaluate bias
Low relative close, low relative volume/volatility = mildly bearish, bias down/consolidation
Low relative close, medium relative volume/volatility = bearish, bias down
Low relative close, high relative volume/volatility = exuberantly bearish, bias down/up depending on context
Nuances & considerations
As to relative close, it's important to note that each bar is a trading range when viewed on a lower timeframe, ES 1W vs. ES 4H:
When relative close is high, bulls were able to push price to range high by the time of close. When relative close is low, bears were able to push price to range low by the time of close. In other words, bulls/bears were able to gain the upper hand over a given trading range, hinting strength for the side that made the final push. When relative close is around middle range (40-60%), it can be said neither side is clearly dominating the range, hinting neutral/indecision bias from a relative close perspective.
As to relative volume/volatility, low values (less than ~0.7x) imply bar has low market participant interest and therefore is likely insignificant, as it is "lacking weight". Values close to or above 1x imply meaningful market participant interest, whereas values well above 1x (greater than ~1.3x) imply exuberance. This exuberance can manifest as initiation (beginning of a trend) or as exhaustion (end of a trend):
Smart Money Precision Structure [BullByte]Smart Money Precision Structure
Advanced Market Structure Analysis Using Institutional Order Flow Concepts
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OVERVIEW
Smart Money Precision Structure (SMPS) is a comprehensive market analysis indicator that combines six analytical frameworks to identify high-probability market structure patterns. The indicator uses multi-dimensional scoring algorithms to evaluate market conditions through institutional order flow concepts, providing traders with professional-grade market analysis.
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PURPOSE AND ORIGINALITY
Why This Indicator Was Developed
• Addresses the gap between retail and institutional analysis methods
• Consolidates multiple analysis techniques that professionals use separately
• Automates complex market structure evaluation into actionable insights
• Eliminates the need for multiple indicators by providing comprehensive analysis
What Makes SMPS Original
• Six-Layer Confluence System - Unique combination of market regime, structure, volume flow, momentum, price action, and adaptive filtering
• Institutional Pattern Recognition - Identifies smart money accumulation and distribution patterns
• Adaptive Intelligence - Parameters automatically adjust based on detected market conditions
• Real-Time Market Scoring - Proprietary algorithm rates market quality from 0-100%
• Structure Break Detection - Advanced pivot analysis identifies trend reversals early
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HOW IT WORKS - TECHNICAL METHODOLOGY
1. Market Regime Analysis Engine
The indicator evaluates five core market dimensions:
• Volatility Score - Measures current volatility against 50-period historical baseline
• Trend Score - Analyzes alignment between 8, 21, and 50-period EMAs
• Momentum Score - Combines RSI divergence with MACD signal alignment
• Structure Score - Evaluates pivot point formation clarity
• Efficiency Score - Calculates directional movement efficiency ratio
These scores combine to classify markets into five regimes:
• TRENDING - Strong directional movement with aligned indicators
• RANGING - Sideways movement with mixed directional signals
• VOLATILE - Elevated volatility with unpredictable price swings
• QUIET - Low volatility consolidation periods
• TRANSITIONAL - Market shifting between different regimes
2. Market Structure Analysis
Advanced pivot point analysis identifies:
• Higher Highs and Higher Lows for bullish structure
• Lower Highs and Lower Lows for bearish structure
• Structure breaks when established patterns fail
• Dynamic support and resistance from recent pivot points
• Key level proximity detection using ATR-based buffers
3. Volume Flow Decoding
Institutional activity detection through:
• Volume surge identification when volume exceeds 2x average
• Buy versus sell pressure analysis using price-volume correlation
• Flow strength measurement through directional volume consistency
• Divergence detection between volume and price movements
• Institutional threshold alerts when unusual volume patterns emerge
4. Multi-Period Momentum Synthesis
Weighted momentum calculation across four timeframes:
• 1-period momentum weighted at 40%
• 3-period momentum weighted at 30%
• 5-period momentum weighted at 20%
• 8-period momentum weighted at 10%
Result smoothed with 6-period EMA for noise reduction.
5. Price Action Quality Assessment
Each bar evaluated for:
• Range quality relative to 20-period average
• Body-to-range ratio for directional conviction
• Wick analysis for rejection pattern identification
• Pattern recognition including engulfing and hammer formations
• Sequential price movement analysis
6. Adaptive Parameter System
Parameters automatically adjust based on detected regime:
• Trending markets reduce sensitivity and confirmation requirements
• Volatile markets increase filtering and require additional confirmations
• Ranging markets maintain neutral settings
• Transitional markets use moderate adjustments
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COMPLETE SETTINGS GUIDE
Section 1: Core Analysis Settings
Analysis Sensitivity (0.3-2.0)
• Default: 1.0
• Lower values require stronger price movements
• Higher values detect more subtle patterns
• Scalpers use 0.8-1.2, swing traders use 1.5-2.0
Noise Reduction Level (2-7)
• Default: 4
• Controls filtering of false patterns
• Higher values reduce pattern frequency
• Increase in volatile markets
Minimum Move % (0.05-0.50)
• Default: 0.15%
• Sets minimum price movement threshold
• Adjust based on instrument volatility
• Forex: 0.05-0.10%, Stocks: 0.15-0.25%, Crypto: 0.20-0.50%
High Confirmation Mode
• Default: True (Enabled)
• Requires all technical conditions to align
• Reduces frequency but increases reliability
• Disable for more aggressive pattern detection
Section 2: Market Regime Detection
Enable Regime Analysis
• Default: True (Enabled)
• Activates market environment evaluation
• Essential for adaptive features
• Keep enabled for best results
Regime Analysis Period (20-100)
• Default: 50 bars
• Determines regime calculation lookback
• Shorter for responsive, longer for stable
• Scalping: 20-30, Swing: 75-100
Minimum Market Clarity (0.2-0.8)
• Default: 0.4
• Quality threshold for pattern generation
• Higher values require clearer conditions
• Lower for more patterns, higher for quality
Adaptive Parameter Adjustment
• Default: True (Enabled)
• Enables automatic parameter optimization
• Adjusts based on market regime
• Highly recommended to keep enabled
Section 3: Market Structure Analysis
Enable Structure Validation
• Default: True (Enabled)
• Validates patterns against support/resistance
• Confirms trend structure alignment
• Essential for reliability
Structure Analysis Period (15-50)
• Default: 30 bars
• Period for structure pattern analysis
• Affects support/resistance calculation
• Match to your trading timeframe
Minimum Structure Alignment (0.3-0.8)
• Default: 0.5
• Required structure score for valid patterns
• Higher values need stronger structure
• Balance with desired frequency
Section 4: Analysis Configuration
Minimum Strength Level (3-5)
• Default: 4
• Minimum confirmations for pattern display
• 5 = Maximum reliability, 3 = More patterns
• Beginners should use 4-5
Required Technical Confirmations (4-6)
• Default: 5
• Number of aligned technical factors
• Higher = fewer but better patterns
• Works with High Confirmation Mode
Pattern Separation (3-20 bars)
• Default: 8 bars
• Minimum bars between patterns
• Prevents clustering and overtrading
• Increase for cleaner charts
Section 5: Technical Filters
Momentum Validation
• Default: True (Enabled)
• Requires momentum alignment
• Filters counter-trend patterns
• Essential for trend following
Volume Confluence Analysis
• Default: True (Enabled)
• Requires volume confirmation
• Identifies institutional participation
• Critical for reliability
Trend Direction Filter
• Default: True (Enabled)
• Only shows patterns with trend
• Reduces counter-trend signals
• Disable for reversal hunting
Section 6: Volume Flow Analysis
Institutional Activity Threshold (1.2-3.5)
• Default: 2.0
• Multiplier for unusual volume detection
• Lower finds more institutional activity
• Stock: 2.0-2.5, Forex: 1.5-2.0, Crypto: 2.5-3.5
Volume Surge Multiplier (1.8-4.5)
• Default: 2.5
• Defines significant volume increases
• Adjust per instrument characteristics
• Higher for stocks, lower for forex
Volume Flow Period (12-35)
• Default: 18 bars
• Smoothing for volume analysis
• Shorter = responsive, longer = smooth
• Match to timeframe used
Section 7: Analysis Frequency Control
Maximum Analysis Points Per Hour (1-5)
• Default: 3
• Limits pattern frequency
• Prevents overtrading
• Scalpers: 4-5, Swing traders: 1-2
Section 8: Target Level Configuration
Target Calculation Method
• Default: Market Adaptive
• Three modes available:
- Fixed: Uses set point distances
- Dynamic: ATR-based calculations
- Market Adaptive: Structure-based levels
Minimum Target/Risk Ratio (1.0-3.0)
• Default: 1.5
• Minimum acceptable reward vs risk
• Higher filters lower probability setups
• Professional standard: 1.5-2.0
Fixed Mode Settings:
• Fixed Target Distance: 50 points default
• Fixed Invalidation Distance: 30 points default
• Use for consistent instruments
Dynamic Mode Settings:
• Dynamic Target Multiplier: 1.8x ATR default
• Dynamic Invalidation Multiplier: 1.0x ATR default
• Adapts to volatility automatically
Market Adaptive Settings:
• Use Structure Levels: True (default)
• Structure Level Buffer: 0.1% default
• Places levels at actual support/resistance
Section 9: Visual Display Settings
Color Theme Options
• Professional (Teal/Red)
- Bullish: Teal (#26a69a)
- Bearish: Red (#ef5350)
- Neutral: Gray (#78909c)
- Best for: Traditional traders, clean appearance
• Dark (Neon Green/Pink)
- Bullish: Neon Green (#00ff88)
- Bearish: Hot Pink (#ff0044)
- Neutral: Dark Gray (#333333)
- Best for: Dark theme users, high contrast
• Light (Green/Red Classic)
- Bullish: Green (#4caf50)
- Bearish: Red (#f44336)
- Neutral: Light Gray (#9e9e9e)
- Best for: Light backgrounds, traditional colors
• Vibrant (Cyan/Magenta)
- Bullish: Cyan (#00ffff)
- Bearish: Magenta (#ff00ff)
- Neutral: Medium Gray (#888888)
- Best for: High visibility, modern appearance
Dashboard Position
• Options: Top Left, Top Right, Bottom Left, Bottom Right, Middle Left, Middle Right
• Default: Top Right
• Choose based on chart layout preference
Dashboard Size
• Full: Complete information display (desktop)
• Mobile: Compact view for small screens
• Default: Full
Analysis Display Style
• Arrows : Simple directional markers
• Labels : Detailed text information
• Zones : Colored areas showing pattern regions
• Default: Labels (most informative)
Display Options:
• Display Analysis Strength: Shows star rating
• Display Target Levels: Shows target/invalidation lines
• Display Market Regime: Shows regime in pattern labels
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HOW TO USE SMPS - DETAILED GUIDE
Understanding the Dashboard
Top Row - Header
• SMPS Dashboard title
• VALUE column: Current readings
• STATUS column: Condition assessments
Market Regime Row
• Shows: TRENDING, RANGING, VOLATILE, QUIET, or TRANSITIONAL
• Color coding: Green = Favorable, Red = Caution
• Status: FAVORABLE or CAUTION trading conditions
Market Score Row
• Percentage from 0-100%
• Above 60% = Strong conditions
• 40-60% = Moderate conditions
• Below 40% = Weak conditions
Structure Row
• Direction: BULLISH, BEARISH, or NEUTRAL
• Status: INTACT or BREAK
• Orange BREAK indicates structure failure
Volume Flow Row
• Direction: BUYING or SELLING
• Intensity: STRONG or WEAK
• Color indicates dominant pressure
Momentum Row
• Numerical momentum value
• Positive = Upward pressure
• Negative = Downward pressure
Volume Status Row
• INST = Institutional activity detected
• HIGH = Above average volume
• NORM = Normal volume levels
Adaptive Mode Row
• ACTIVE = Parameters adjusting
• STATIC = Fixed parameters
• Shows required confirmations
Analysis Level Row
• Minimum strength level setting
• Pattern separation in bars
Market State Row
• Current analysis: BULLISH, BEARISH, NEUTRAL
• Shows analysis price level when active
T:R Ratio Row
• Current target to risk ratio
• GOOD = Meets minimum requirement
• LOW = Below minimum threshold
Strength Row
• BULL or BEAR dominance
• Numerical strength value 0-100
Price Row
• Current price
• Percentage change
Last Analysis Row
• Previous pattern direction
• Bars since last pattern
Reading Pattern Signals
Bullish Structure Pattern
• Upward triangle or "Bullish Structure" label
• Star rating shows strength (★★★★★ = strongest)
• Green line = potential target level
• Red dashed line = invalidation level
• Appears below price bars
Bearish Structure Pattern
• Downward triangle or "Bearish Structure" label
• Star rating indicates reliability
• Green line = potential target level
• Red dashed line = invalidation level
• Appears above price bars
Pattern Strength Interpretation
• ★★★★★ = 6 confirmations (exceptional)
• ★★★★☆ = 5 confirmations (strong)
• ★★★☆☆ = 4 confirmations (moderate)
• ★★☆☆☆ = 3 confirmations (minimum)
• Below minimum = filtered out
Visual Elements on Chart
Lines and Levels:
• Gray Line = 21 EMA trend reference
• Green Stepline = Dynamic support level
• Red Stepline = Dynamic resistance level
• Green Solid Line = Active target level
• Red Dashed Line = Active invalidation level
Pattern Markers:
• Triangles = Arrow display mode
• Text Labels = Label display mode
• Colored Boxes = Zone display mode
Target Completion Labels:
• "Target" = Price reached target level
• "Invalid" = Pattern invalidated by price
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RECOMMENDED USAGE BY TIMEFRAME
1-Minute Charts (Scalping)
• Sensitivity: 0.8-1.2
• Noise Reduction: 3-4
• Pattern Separation: 3-5 bars
• High Confirmation: Optional
• Best for: Quick intraday moves
5-Minute Charts (Precision Intraday)
• Sensitivity: 1.0 (default)
• Noise Reduction: 4 (default)
• Pattern Separation: 8 bars
• High Confirmation: Enabled
• Best for: Day trading
15-Minute Charts (Short Swing)
• Sensitivity: 1.0-1.5
• Noise Reduction: 4-5
• Pattern Separation: 10-12 bars
• High Confirmation: Enabled
• Best for: Intraday swings
30-Minute to 1-Hour (Position Trading)
• Sensitivity: 1.5-2.0
• Noise Reduction: 5-7
• Pattern Separation: 15-20 bars
• Regime Period: 75-100
• Best for: Multi-day positions
Daily Charts (Swing Trading)
• Sensitivity: 1.8-2.0
• Noise Reduction: 6-7
• Pattern Separation: 20 bars
• All filters enabled
• Best for: Long-term analysis
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MARKET-SPECIFIC SETTINGS
Forex Pairs
• Minimum Move: 0.05-0.10%
• Institutional Threshold: 1.5-2.0
• Volume Surge: 1.8-2.2
• Target Mode: Dynamic or Market Adaptive
Stock Indices (ES, NQ, YM)
• Minimum Move: 0.10-0.15%
• Institutional Threshold: 2.0-2.5
• Volume Surge: 2.5-3.0
• Target Mode: Market Adaptive
Individual Stocks
• Minimum Move: 0.15-0.25%
• Institutional Threshold: 2.0-2.5
• Volume Surge: 2.5-3.5
• Target Mode: Dynamic
Cryptocurrency
• Minimum Move: 0.20-0.50%
• Institutional Threshold: 2.5-3.5
• Volume Surge: 3.0-4.5
• Target Mode: Dynamic
• Increase noise reduction
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PRACTICAL APPLICATION EXAMPLES
Example 1: Strong Trending Market
Dashboard Reading:
• Market Regime: TRENDING
• Market Score: 75%
• Structure: BULLISH, INTACT
• Volume Flow: BUYING, STRONG
• Momentum: +0.45
Interpretation:
• Strong uptrend environment
• Institutional buying present
• Look for bullish patterns as continuation
• Higher probability of success
• Consider using lower sensitivity
Example 2: Range-Bound Conditions
Dashboard Reading:
• Market Regime: RANGING
• Market Score: 35%
• Structure: NEUTRAL
• Volume Flow: SELLING, WEAK
• Momentum: -0.05
Interpretation:
• No clear direction
• Low opportunity environment
• Patterns are less reliable
• Consider waiting for regime change
• Or switch to a range-trading approach
Example 3: Structure Break Alert
Dashboard Reading:
• Previous: BULLISH structure
• Current: Structure BREAK
• Volume: INST flag active
• Momentum: Shifting negative
Interpretation:
• Trend reversal potentially beginning
• Institutional participation detected
• Watch for bearish pattern confirmation
• Adjust bias accordingly
• Increase caution on long positions
Example 4: Volatile Market
Dashboard Reading:
• Market Regime: VOLATILE
• Market Score: 45%
• Adaptive Mode: ACTIVE
• Confirmations: Increased to 6
Interpretation:
• Choppy conditions
• Parameters auto-adjusted
• Fewer but higher quality patterns
• Wider stops may be needed
• Consider reducing position size
Below are a few chart examples of the Smart Money Precision Structure (SMPS) indicator in action.
• Example 1 – Bullish Structure Detection on SOLUSD 5m
• Example 2 – Bearish Structure Detected with Strong Confluence on SOLUSD 5m
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TROUBLESHOOTING GUIDE
No Patterns Appearing
Check these settings:
• High Confirmation Mode may be too restrictive
• Minimum Strength Level may be too high
• Market Clarity threshold may be too high
• Regime filter may be blocking patterns
• Try increasing sensitivity
Too Many Patterns
Adjust these settings:
• Enable High Confirmation Mode
• Increase Minimum Strength Level to 5
• Increase Pattern Separation
• Reduce Sensitivity below 1.0
• Enable all technical filters
Dashboard Shows "CAUTION"
This indicates:
• Market conditions are unfavorable
• Regime is RANGING or QUIET
• Market score is low
• Consider waiting for better conditions
• Or adjust expectations accordingly
Patterns Not Reaching Targets
Consider:
• Market may be choppy
• Volatility may have changed
• Try Dynamic target mode
• Reduce target/risk ratio requirement
• Check if regime is VOLATILE
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ALERTS CONFIGURATION
Alert Message Format
Alerts include:
• Pattern type (Bullish/Bearish)
• Strength rating
• Market regime
• Analysis price level
• Target and invalidation levels
• Strength percentage
• Target/Risk ratio
• Educational disclaimer
Setting Up Alerts
• Click Alert button on TradingView
• Select SMPS indicator
• Choose alert frequency
• Customize message if desired
• Alerts fire on pattern detection
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DATA WINDOW INFORMATION
The Data Window displays:
• Market Regime Score (0-100)
• Market Structure Bias (-1 to +1)
• Bullish Strength (0-100)
• Bearish Strength (0-100)
• Bull Target/Risk Ratio
• Bear Target/Risk Ratio
• Relative Volume
• Momentum Value
• Volume Flow Strength
• Bull Confirmations Count
• Bear Confirmations Count
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BEST PRACTICES AND TIPS
For Beginners
• Start with default settings
• Use High Confirmation Mode
• Focus on TRENDING regime only
• Paper trade first
• Learn one timeframe thoroughly
For Intermediate Users
• Experiment with sensitivity settings
• Try different target modes
• Use multiple timeframes
• Combine with price action analysis
• Track pattern success rate
For Advanced Users
• Customize per instrument
• Create setting templates
• Use regime information for bias
• Combine with other indicators
• Develop systematic rules
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IMPORTANT DISCLAIMERS
• This indicator is for educational and informational purposes only
• Not financial advice or a trading system
• Past performance does not guarantee future results
• Trading involves substantial risk of loss
• Always use appropriate risk management
• Verify patterns with additional analysis
• The author is not a registered investment advisor
• No liability accepted for trading losses
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VERSION NOTES
Version 1.0.0 - Initial Release
• Six-layer confluence system
• Adaptive parameter technology
• Institutional volume detection
• Market regime classification
• Structure break identification
• Real-time dashboard
• Multiple display modes
• Comprehensive settings
## My Final Thoughts
Smart Money Precision Structure represents an advanced approach to market analysis, bringing institutional-grade techniques to retail traders through intelligent automation and multi-dimensional evaluation. By combining six analytical frameworks with adaptive parameter adjustment, SMPS provides comprehensive market intelligence that single indicators cannot achieve.
The indicator serves as an educational tool for understanding how professional traders analyze markets, while providing practical pattern detection for those seeking to improve their technical analysis. Remember that all trading involves risk, and this tool should be used as part of a complete analysis approach, not as a standalone trading system.
- BullByte
Six Meridian Divine Swords [theUltimator5]The Six Meridian Divine Sword is a legendary martial arts technique in the classic wuxia novel “Demi-Gods and Semi-Devils” (天龙八部) by Jin Yong (金庸). The technique uses powerful internal energy (qi) to shoot invisible sword-like energy beams from the six meridians of the hand. Each of the six fingers/meridians corresponds to a “sword,” giving six different sword energies.
The Six Meridian Divine Swords indicator is a compact “signal dashboard” that fuses six classic indicators (fingers)—MACD, KDJ, RSI, LWR (Williams %R), BBI, and MTM—into one pane. Each row is a traffic-light dot (green/bullish, red/bearish, gray/neutral). When all six align, the script draws a confirmation line (“All Bullish” or “All Bearish”). It’s designed for quick consensus reads across trend, momentum, and overbought/oversold conditions.
How to Read the Dashboard
The pane has 6 horizontal rows (explained in depth later):
MACD
KDJ
RSI
LWR (Larry Williams %R)
BBI (Bull & Bear Index)
MTM (Momentum)
Each tick in the row is a dot, with sentiment identified by a color.
Green = bullish condition met
Red = bearish condition met
Gray = inside a neutral band (filtering chop), shown when Use Neutral (Gray) Colors is ON
There are two lines that track the dots on the top or bottom of the pane.
All Bullish Signal Line: appears only if all 6 are strongly bullish (default color = white)
All Bearish Signal Line: appears only if all 6 are strongly bearish (default color = fuchsia)
The Six Meridians (Indicators) — What They Mean:
1) MACD — Trend & Momentum
What it is: A trend-following momentum indicator based on the relationship between two moving averages (typically 12-EMA and 26-EMA)
Logic used: Classic MACD line (EMA12−EMA26) vs its 9-EMA signal.
Bullish: MACD > Signal and |MACD−Signal| > Neutral Threshold
Bearish: MACD < Signal and |diff| > threshold
Neutral: |diff| ≤ threshold
Why: Small crosses can whipsaw. The neutral band ignores tiny separations to reduce noise.
Inputs: Fast/Slow/Signal lengths, Neutral Threshold.
2) KDJ — Stochastic with J-line boost
What it is: A variation of the stochastic oscillator popular in Chinese trading systems
Logic used: K = SMA(Stochastic, smooth), D = SMA(K, smooth), J = 3K − 2D.
Bullish: K > D and |K−D| > 2
Bearish: K < D and |K−D| > 2
Neutral: |K−D| ≤ 2
Why: K–D separation filters tiny wiggles; J offers an “extreme” early-warning context in the value label.
Inputs: Length, Smoothing.
3) RSI — Momentum balance (0–100)
What it is: A momentum oscillator measuring speed and magnitude of price changes (0–100)
Logic used: RSI(N).
Bullish: RSI > 50 + Neutral Zone
Bearish: RSI < 50 − Neutral Zone
Neutral: Between those bands
Why: Centerline/adaptive bands (around 50) give a directional bias without relying on fixed 70/30.
Inputs: Length, Neutral Zone (± around 50).
4) LWR (Williams %R) — Overbought/Oversold
What it is: An oscillator similar to stochastic, measuring how close the close is to the high-low range over N periods
Logic used: %R over N bars (0 to −100).
Bullish: %R > −50 + Neutral Zone
Bearish: %R < −50 − Neutral Zone
Neutral: Between those bands
Why: Uses a centered band around −50 instead of only −20/−80, making it act like a directional filter.
Inputs: Length, Neutral Zone (± around −50).
5) BBI (Bull & Bear Index) — Smoothed trend bias
What it is: A composite moving average, essentially the average of several different moving averages (often 3, 6, 12, 24 periods)
Logic used: Average of 4 SMAs (3/6/12/24 by default):
BBI = (MA3 + MA6 + MA12 + MA24) / 4
Bullish: Close > BBI and |Close−BBI| > 0.2% of BBI
Bearish: Close < BBI and |diff| > threshold
Neutral: |diff| ≤ threshold
Why: Multiple MAs blended together reduce single-MA whipsaw. A dynamic 0.2% band ignores tiny drift.
Inputs: 4 lengths (default 3/6/12/24). Threshold is auto-scaled at 0.2% of BBI.
6) MTM (Momentum) — Rate of change in price
What it is: A simple measure of rate of change
Logic used: MTM = Close − Close
Bullish: MTM > 0.5% of Close
Bearish: MTM < −0.5% of Close
Neutral: |MTM| ≤ threshold
Why: A percent-based gate adapts across prices (e.g., $5 vs $500) and mutes insignificant moves.
Inputs: Length. Threshold auto-scaled to 0.5% of current Close.
Display & Inputs You Can Tweak
🎨 Use Neutral (Gray) Colors
ON (default): 3-color mode with clear “no-trade”/“weak” states.
OFF: classic binary (green/red) without neutral filtering.
Linton Price Targets(R)Linton Price Targets
A groundbreaking new way of projecting price targets and when they will be met in the future.
Point and figure charts have largely fallen out of favour in recent decades with the birth of personal computing and electronic data services. Few software systems calculate them correctly, and the technique is seen as outdated and difficult for the newcomer to technical analysis to understand. Linton Price Targets takes the point and figure methodology for producing vertical count targets and applies them to time-based charts that are much more widely used for technical analysis.
To place Point and figure price targets on a time-based chart, we first need to relate the conditions that produce the vertical count targets. Vertical Targets are only generated with uninterrupted moves off a high or a low point in prices. A pullback of at least 3 boxes locks the thrust column and therefore the price target. A move of at least one box above (in the case of an upside target off a low) or one box below (downside off a high) ‘activates’ the price target. Here the buyers and sellers respectively are confirmed. Conversely a move below the base of an upside target column, or above the top of a downside column ‘negates’ the vertical target. In this case, the buyers and sellers have been superseded by subsequent events.
Projecting Price
The price projection following the point and figure 3-Box method is relatively straightforward. The standard projection used is twice the original move from the top of the initial thrust level. This derives from the 3-Box construction devised by Cohen, whereby the initial thrust count is a third of the overall price count projection. But there is no reason to limit the Target Price Factor to the value to 2. A value of 1 could be used in the case of consolidation patten where the move out of the pattern is roughly equivalent to the move into the pattern. A value of 1.618 could be used for Fibonacci Retracements or Extensions or a value of 2 x log, can be used to deal with increasing box (unit) sizes as price changes.
Projecting Time
Projecting a potential price target with is relatively straight forward. Determining a time in the future when such a price target will be met is more of a challenge. This has been seen as one of the major drawbacks of point and figure charts for decades. Because there is no time axis on a Point and figure chart, there is no saying when a count projection target will be met.
For the Time to Target, we need to consider potential methodologies such as:
1. Price to Time Ratio – t units of price for every x units of time – ie $1 every 2 days
2. Thrust Angle Factor – a factor x the initial trust angle for the target angle
3. Time to Activation Factor – time to target is x the time taken for a target to activate
4. Follow the Price – track prices as the progress to target and adjust time to target accordingly
5. Historical Average Slope – historical average price time average for last n targets
Considering the Price to Time Ratio method, Chart 1 below shows a chart of the price targets for the US stock Applied Materials with a Unit size of $1. The targets are projected Log Scale 2x the initial thrust. From this chart we see that the target prices are reached later than the projection predicted. This means that we need to consider a lesser slope. Chart 2 below shows the same chart with the slope now adjusted to $1 every three days. This chart shows that recent targets for Applied Materials have been approximately met with this slope. Therefore, this is a better slope to use in this instance.
Chart 1 - Applied Materials (unit size $1) - target projection slope $1 every 2 days
Chart 2 - Applied Materials (unit size $1) - target projection slope $1 every 3 days
Chart 3 - Applied Materials (unit size $1) - target projection slope 1/2 initial thrust slope
The second method of projecting price targets assumes the time that a price target will be reached is directly related to the speed of the initial thrust, which generates the target. Chart 3 shows the same security as in the previous examples but using this method with an angle of slope which is half the initial thrust angle. The factor can also be altered with this method to best fit the data. In the previous examples (Charts 1 & 2) we see the slope of each of the targets is constant. Using the Thrust Angle Factor method, different buying and selling thrust angles produces different target slopes.
A third possible projection method assumes that the longer a price target takes to activate, the longer it takes for a target to be reached. The argument goes that the pullback from the initial thrust is more of a consolidation phase rather than a sharp reaction and therefore, the potential overall move will take longer. Chart 4 shows this method. Again, we see that, due to the varying times of price targets to activate, the slopes of the targets are not uniform as in Method 1 which uses a consistent price to time slope.
Chart 4: Applied Materials (unit size $1) – target projection x times the time taken for target to activate.
Chart 5: Applied Materials (unit size $1) – target projection readjusts with new price information
A fourth method for predicting when in the future that a price target might be met adjusts the slope of the targets from the activation point as new price information arrives. With multiple targets activated at different points on the chart, this method also produces price targets of different slopes. Because targets are readjusted with every new price, it is best to set this method to ignore the last x bars in order to spot any divergence from the targets. Chart 5 shows this methodology.
Chart 6 shows a method where the average slope of price over time is taken for the previous n targets that are achieved and used as the slope for projecting targets into the future. While the slopes for upward and downward targets can be separately adjusted with the previous methods mentioned, this method automatically calculates the different slope speeds of upside and downside targets.
Chart 6: Applied Materials (unit size $1) – target projection based on the average slope of the last x targets.
Multiple Price Targets
As with Point and figure count targets, multiple price targets point to the same price or price level increases the likelihood of price targets being met. This is known as ‘clustering’. Now with the ability to project price targets to a future date on a chart, it is not only possible to see clustering of the price of multiple targets, but also clustering of times targets may be met. This can lead to a ‘cluster zone’, an area of price and time in the future that multiple targets may be met. Chart 7 shows an example of this.
Chart 7: Applied Materials (unit size $1) – target zone of future price and time of multiple targets
Achievement and Non-Achievement of Price Targets and Prevailing Trend
Point and figure targets are approximate and are more often than not, not met precisely. They are regularly not achieved or exceeded, but this provides valuable information in itself. Upside price targets that are achieved or exceeded shows bullish confirmation, whereas these targets not being achieved indicates a degree of bearishness. Conversely, downside price targets achieved or exceeded is bearish confirmation and such targets not achieved is an indication of inherent bullishness.
Unsurprisingly, price targets are normally achieved or exceeded in line with the prevailing trend. Upside price targets should be given more weight in uptrends, while downside ones may only serve as a temporary moment for caution, because they are counter-trend. Downside Targets will carry more weight in downtrends. It is also often the case that the last target in line with the prevailing trend is never met as the trend changes and a new set of targets in the opposite direction are generated with the new reversal of trend. Active price targets in both directions are often an early sign of this. This is particularly true with multiple targets in the new trend direction verses one lone target in the previous trend direction. This lone target is likely to be negated, clearly signalling the new trend direction is taking hold.
Activation and Negation of Price Targets
An upside price target is only activated when prices rise a further than a full price unit above the top of the initial uninterrupted buying thrust in prices from a low. A low is defined by a price level at least one full price unit below a previous recent low. The pullback downwards of at least three price units ‘locks’ the initial thrust that generates the upside price target. Here the bulls buying from the bottom have been confirmed.
A downside price target is only activated when prices fall further than a full price unit below the bottom of the initial uninterrupted selling thrust in prices from a high. A high is defined by a price level at least one full price unit above a previous recent high. The pullback upwards of at least three price units ‘locks’ the initial thrust that generates the downside price target. Here the bears selling from the top have been confirmed.
A target is valid once the column is locked with the pullback of at least three units, but it should not be considered as active until the price breaks through the activation level. An unactivated target serves as advance notice that a target is in place and will become active once the activation price level is broken.
An upside price target is negated if prices fall below the bottom of the initial uninterrupted buying thrust in prices. In this instance the bulls have been beaten by the bears. Conversely, a downside price target is negated if prices rise above the top of the initial uninterrupted Selling thrust in prices. Here the bears selling from the top have been beaten by the bulls.
It is important to note the difference between a target that is activated first and then negated and a target that was never activated and negated first. Research shows that normally more than half of all negated targets were never activated and wouldn’t have been taken. Taking the prevailing trend into account further reduces the number of negated targets that would have been taken at the activation point.
Evaluating a Target as Price Progress
Because Linton Price targets can be evaluated with subsequent new price information with the passage of time, it becomes possible to see more easily, than on a point and figure chart, when a target might be failing. The ideas of activation, negation, and achievement of price targets are understood in point and figure charting and apply similarly here to time-based charts. But the ability to now see prices diverging from the target path presents us with some potential new states of a target. In the case of an upside target, if prices fall away or wander sideways from a target path this alerts us to the fact that the prices on their way to the target may be ‘exhausting’. If we fall or wander back below the target activation level, this implies the previous resistance level off the thrust high has not managed to become a new support level for the price. Consequently, we may consider that the target has been ‘de-activated’. If we fall further below the low of the pullback low point, this previous support level also failed to hold and this is providing us with an early warning that the target is quite possibly ‘failing.’ If prices are moving towards the target as expected, we can say the target is ‘in train.’ This is particularly appropriate for multiple targets that run parallel using the first price/time slope prediction method where the targets look like ‘train tracks.’
Improbable Targets
Occasionally an improbable target a long way from the price will be generated. This is particularly true using a log scale projection. Beware of a target that points to a very large change in price. This is especially true of a lone target. It is also quite likely that the unit size has been set too small where a bigger unit size may not produce a target at all.
Longer term charts
Point and figure charts have always meant to be constructed with tick data. The point and figure methodology reduces this down to just the ticks that create a new box on the chart. Long tick data price histories are typically expensive and hard to come by. This can also be an overwhelming amount data to store and analyse, particularly in the case of very liquid instruments such as a major currency pair. For intraday charts, one minute data will normally suffice. But these histories may not be long enough either and it may be necessary to use a 60-minute chart.
It is also possible to construct point and figure charts using high/low data or even open-high-low-close data making some assumptions based on a rising or falling candle, on which came first, the high or the low. The targets will be impacted accordingly.
When it comes to longer term charts such as weekly or monthly charts it is unlikely that these time frames would be used for point and figure charts. The construction method already filters the data. But when it comes to long-term time based charts it becomes necessary to look at weekly or monthly data.
You will also see that long term price upside targets are generated that are not on the daily chart. This is because daily the movements will not provide the same uninterrupted buying thrusts as with the monthly data. The daily pullbacks are effectively ignored when using monthly data. The other advantage is the unit size is now months so we can say that the target slope equates to 1% of price every month for a 1 to 1 slope for example. Using weekly or monthly data to construct the price targets is a significant departure from the traditional point and figure charting method.
Time-Based Charts Are Easier to Understand Than Point and Figure Charts
In recent years, the vast majority of people carrying out technical analysis of charts do not use the point and figure charts. This is partly because very few software systems draw them correctly and do not calculate the price targets. Newcomers to technical analysis find point and figure charts hard to understand.
Combining With Other Techniques
Using point and figure charts has also often meant the need to switch between different chart types for the same instrument. Time-based charts allow for a vast set of technical analysis time-series based techniques to be married with Linton Price Targets. Having different sets of analysis on the same chart can increase the power of the analysis without having to swap between different chart types.
Linton Price Targets builds on the technical analysis body of knowledge developed over the past 100 years by bringing an old, largely lost, technique into the modern age.
The main advantages of Linton Price Targets are:
• The ability to have price targets on time-based charts.
• It is now possible to ascertain when in the future a price target may be met.
• With the passage of time, it becomes clearer if a target track is being followed.
• The targets can be applied to longer-term time-based charts.
• Time-series based analysis techniques can be used on the same chart as the targets.
• The targets are much easier to understand for the newcomer to technical analysis.
BVB dominance bars
Hello everyone, this is my first indicator. these candles shows you who's in control. I like to think its some what close to heikin ashi candles as it shows you the Trend but doesn't average it out. also shows you when there is indecision. please read the instructions on how it works. its not a stand alone strategy. but adds value to your own strategy.
📖 How It Works
The BvB Dominance Bars indicator is a visual tool that colors candles based on market control—whether bulls or bears are in charge. It uses a custom metric comparing the price's relationship to a smoothed moving average (EMA), then normalizes that difference over time to express relative bullish or bearish pressure.
Here’s the breakdown:
Bulls vs Bears Logic:
A short-term EMA (default: 14-period) is used to establish a midpoint reference.
Bull Pressure is calculated as how far the high is above this EMA.
Bear Pressure is how far the low is below this EMA.
These are normalized over a lookback period (default: 120 bars) to produce percentile scores (0–100) for both bulls and bears.
Dominance & Color Coding:
The indicator compares normalized bull and bear scores.
Candles are color-coded based on:
Bright Lime: Strong Bull Dominance (with high confidence)
Soft Lime/Yellow: Moderate Bull Control
Bright Red: Strong Bear Dominance
Soft Red/Yellow: Moderate Bear Control
Gray: Neutral/Low conviction
Optional Live Label:
A small floating label shows who has control: “Bull Control,” “Bear Control,” or “Neutral.”
🧠 How to Use It (Example Strategy)
The BvB Dominance Bars indicator is not a standalone buy/sell signal but a market sentiment overlay. It’s most effective when combined with your own strategy, like price action or trend-following tools.
Here’s an example use case:
🧪 Reversal Confirmation Strategy
Objective: Catch high-probability reversals during key kill zones or supply/demand levels.
Setup:
Mark your key support/resistance zones using your standard method (e.g., FVGs, liquidity sweeps, or ICT PD arrays).
Wait for price to reach one of these zones.
Watch candle colors from the BvB Dominance Bars:
If you expect a bullish reversal, wait for a transition from red/gray candles to lime green or bright lime (bullish dominance taking over).
If you expect a bearish reversal, look for a change from green/gray to red or bright red.
Entry Filter:
Only enter if the dominant color holds for 2+ candles.
Avoid trades when candles are gray or yellow (indecision/neutral).
Exit Option:
Exit if dominance shifts against you (e.g., from lime to red), or use structure-based stops.
⚙️ Settings You Can Adjust:
BvB Period: Controls how fast EMA responds.
Bars Back: Determines how long the normalization looks back.
Thresholds: Influence how strong the dominance must be to change candle color.
✅ Best Used When:
You already have a bias and just want a confirmation of sentiment.
You're trading intraday and want a feel for shifting momentum without relying on noisy indicators.
You want a clean, color-coded overlay to help filter out fakeouts and indecision.
Frozen Bias Zones – Sentiment Lock-insOverview
The Frozen Bias Zones indicator visualizes market sentiment lock-ins using a combination of RSI, MACD, and OBV. It creates "bias zones" that indicate whether the market is in a sustained bullish or bearish phase. These zones are then highlighted on the chart, helping traders spot when the market is locked in a bias. The script also detects breakout events from these zones and marks them with clear labels for easier decision-making.
Features
Multi-Indicator Sentiment Analysis: Combines RSI, MACD, and OBV to detect synchronized bullish or bearish sentiment.
Frozen Bias Zones: Identifies and visually represents zones where the market has remained in a particular sentiment (bullish or bearish) for a defined period.
Breakout Alerts: Displays labels to indicate when the price breaks out of the established bias zone.
Customizable Inputs: Adjust the zone duration, RSI, MACD, and breakout label visibility.
Input Parameters
Bias Duration (biasLength)
The minimum number of candles the market must stay in a specific sentiment to consider it a "Frozen Bias Zone".
Default: 5 candles.
RSI Period (rsiPeriod)
Period for the Relative Strength Index (RSI) calculation.
Default: 14 periods.
MACD Settings
MACD Fast (macdFast): The fast-moving average period for the MACD calculation.
Default: 12.
MACD Slow (macdSlow): The slow-moving average period for the MACD calculation.
Default: 26.
MACD Signal (macdSig): The signal line period for MACD.
Default: 9.
Show Break Label (showBreakLabel)
Toggle to show labels when the price breaks out of the bias zone.
Default: True (shows label).
Bias Zone Colors
Bullish Bias Color (bullColor): The color for bullish zones (light green).
Bearish Bias Color (bearColor): The color for bearish zones (light red).
How It Works
This indicator analyzes three key market metrics to determine whether the market is in a bullish or bearish phase:
RSI (Relative Strength Index)
Measures the speed and change of price movements. RSI > 50 indicates a bullish phase, while RSI < 50 indicates a bearish phase.
MACD (Moving Average Convergence Divergence)
Measures the relationship between two moving averages of the price. A positive MACD histogram indicates bullish momentum, while a negative histogram indicates bearish momentum.
OBV (On-Balance Volume)
Uses volume flow to determine if a trend is likely to continue. A rising OBV indicates bullish accumulation, while a falling OBV indicates bearish distribution.
Bias Zone Detection
The market sentiment is considered bullish if all three indicators (RSI, MACD, and OBV) are bullish, and bearish if all three indicators are bearish.
Bullish Zone: A zone is created when the market sentiment remains bullish for the duration of the specified biasLength.
Bearish Zone: A zone is created when the market sentiment remains bearish for the duration of the specified biasLength.
These bias zones are visually represented on the chart as colored boxes (green for bullish, red for bearish).
Breakout Detection
The script automatically detects when the market exits a bias zone. If the price moves outside the bounds of the established zone (either up or down), the script will display one of the following labels:
Bias Break (Up): Indicates that the price has broken upwards out of the zone (with a green label).
Bias Break (Down): Indicates that the price has broken downwards out of the zone (with a red label).
These labels help traders easily identify potential breakout points.
Example Use Case
Bullish Market Conditions: If the RSI is above 50, the MACD histogram is positive, and OBV is increasing, the script will highlight a green bias zone. Traders can watch for potential bullish breakouts or trend continuation after the zone ends.
Bearish Market Conditions: If the RSI is below 50, the MACD histogram is negative, and OBV is decreasing, the script will highlight a red bias zone. Traders can look for potential bearish breakouts when the zone ends.
Conclusion
The Frozen Bias Zones indicator is a powerful tool for traders looking to visualize prolonged market sentiment, whether bullish or bearish. By combining RSI, MACD, and OBV, it helps traders spot when the market is "locked in" to a bias. The breakout labels make it easier to take action when the price moves outside of the established zone, potentially signaling the start of a new trend.
Instructions
To use this script:
Add the Frozen Bias Zones indicator to your TradingView chart.
Adjust the input parameters to suit your trading strategy.
Observe the colored bias zones on your chart, along with breakout labels, to make informed decisions on trend continuation or reversal.
