BUY & SELL VOLUME PRESSURE by @XeL_ArjonaBUY & SELL PRICE TO VOLUME PRESSURE
By Ricardo M Arjona @XeL_Arjona
DISCLAIMER:
The Following indicator/code IS NOT intended to be a formal investment advice or recommendation by the author, nor should be construed as such. Users will be fully responsible by their use regarding their own trading vehicles/assets.
The embedded code and ideas within this work are FREELY AND PUBLICLY available on the Web for NON LUCRATIVE ACTIVITIES and must remain as is.
Pine Script code MOD's and adaptations by @XeL_Arjona with special mention in regard of:
Buy (Bull) and Sell (Bear) "Power Balance Algorithm" by: Stocks & Commodities V. 21:10 (68-72): "Bull And Bear Balance Indicator by Vadim Gimelfarb"
Normalisation (Filter) from Karthik Marar's VSA work: karthikmarar.blogspot.mx
Buy to Sell Convergence / Divergence and Volume Pressure Counterforce Histogram Ideas by: @XeL_Arjona
WHAT IS THIS?
The following indicators try to acknowledge in a K-I-S-S approach to the eye (Keep-It-Simple-Stupid), the two most important aspects of nearly every trading vehicle: -- PRICE ACTION IN RELATION BY IT'S VOLUME --
Volume Pressure Histogram: Columns plotted in positive are considered the dominant Volume Force for the given period. All "negative" columns represents the counterforce Vol.Press against the dominant.
Buy to Sell Convergence / Divergence: It's a simple adaptation of the popular "Price Percentage Oscillator" or MACD but taking Buying Pressure against Selling Pressure Averages, so given a Positive oscillator reading (>0) represents Bullish dominant Trend and a Negative reading (<0) a Bearish dominant Trend. Histogram is the diff between RAW Volume Pressures Convergence/Divergence minus Normalised ones (Signal) which helps as a confirmation.
Volume bars are by default plotted from RAW Volume Pressure algorithms, but they can be as well filtered with Karthik Marar's approach against a "Total Volume Average" in favor to clean day to day noise like HFT.
ALL NEW IDEAS OR MODIFICATIONS to these indicators are Welcome in favor to deploy a better and more accurate readings. I will be very glad to be notified at Twitter: @XeL_Arjona
Any important addition to this work MUST REMAIN PUBLIC by means of CreativeCommons CC & TradingView. -- 2015
Ppo
CM_Laguerre PPO PercentileRank Mkt Tops & BottomsCustom Code that Finds Market Tops & Bottoms!!!
CM_Laguerre PPO PercentileRank V2 Mkt Tops & Bottoms
Original Laguerre PPO code was Created by TheLark.
Special Thanks to coondawg71 and ChartArt for Great Insights
This Is Version 2 Of This Indicator that now Finds Market Tops and Bottoms.
Coming Next…Upper Indicator Pinpointing Entries Based on Price Action!!!
See Original Post Below For Detailed Information.
Other Indicators That Show Market Bottoms Well.
CM ATR PERCENTILERANK - GREAT FOR SHOWING MARKET BOTTOMS!
GREAT CONFIRMING INDICATOR FOR THE WILLIAMS VIX FIX
TWO TRADING SYSTEMS - BASED ON EXTREME MOVES!!!
CM_Laguerre PPO PercentileRank - Markets ToppingCustom Code that Finds Market Tops!!!
CM_Laguerre PPO PercentileRank - Markets Topping
Original Laguerre PPO code was Created by TheLark.
I found if I applied a Percent Rank of the PPO to view Extreme Moves in the PPO it was great at showing Market Tops.
Features via Inputs Tab:
Ability to set all PPO Indicator Values.
Ability to set Warning Threshold Line Value and Extreme Percentile Threshold Line Values.
Ability to turn On/Off Warning and Extreme Percentile Rank Lines.
***I’ve found this Indicator to be Valid…However, I have NOT Extensively tested the Settings. Initially setting the LookBack Period to 200 on A Daily chart with a 90 Extreme Percentile Rank Value works Good. Some charts changing the Lookback period to 50 an draisisng the Extreme Percentile Rank Line to 95 Works Great.
***To Be Blunt…When I look at the underlying Indicator…I don’t know why this Shows Us What It Does When the Percentile Rank Function is applied to it…But For Whatever Reason…It Just Works.
***If you Find Very Useful Settings Please Post Below
Other Indicators That Show Market Bottoms Well.
CM ATR PERCENTILERANK - GREAT FOR SHOWING MARKET BOTTOMS!
GREAT CONFIRMING INDICATOR FOR THE WILLIAMS VIX FIX
TWO TRADING SYSTEMS - BASED ON EXTREME MOVES!!!
TheLark: Laguerre PPOA while ago I posted a more flexible MACD, known as PPO (See that post for details).
Yesterday I had a request by @ChartArt for a Laguerre MACD. Since I favor PPO to MACD, here it is!
Completely untested, and not at all price fit. Play with the numbers and leave a comment if you come up with an interesting combination or idea ;)
