MonkeyblackmailThis script consists of several sections. test it and tell me your concerns. a lot of more works will be done
Volume Accumulation : The first part of the script checks for a new 5-minute interval and accumulates the volume of the current interval. It separates the volume into buying volume and selling volume based on whether the closing price is closer to the high or low of the bar.
Volume Normalization and Pressure Calculation : The script then normalizes the volume with a 20-period EMA, and calculates buying pressure, selling pressure, and total pressure. These calculations provide insight into the underlying demand (buying pressure) and supply (selling pressure) conditions in the market.
RSI Calculation and Overbought/Oversold Conditions : The script calculates the RSI (Relative Strength Index) and checks whether it is in an overbought (RSI > 70) or oversold (RSI < 30) state. The RSI is a momentum indicator, providing insights into the speed and change of price movements.
Volume Condition Check and Wondertrend Indicator : The script checks if the volume is high for the past five bars. If it is, it applies the Wondertrend Indicator, which uses a combination of the Parabolic SAR (Stop and Reverse) and Keltner Channel to identify potential trends in the market.
Swing High/Low and Fibonacci Retracement : The script identifies swing high and swing low points using a specified pivot length. Then, it draws Fibonacci retracement levels between these swing high and swing low points.
he monkeyblackmail script works well in the 5 minutes chart and combines several elements of technical analysis, including volume analysis, momentum indicators, trend-following indicators, volatility channels, and Fibonacci retracements. It aims to provide a comprehensive view of the market condition, highlighting key levels and potential trends in an easily understandable format. Don’t be too quick to start trading with it, first study how it work and you will blackmail the market.
Swing-high
Heiken Ashi Swing High/LowIt uses Heiken Ashi candles to detect recent swing high and low.
It can be used as a stop-loss or support/resistance indicator.
Swing Highs and LowsSimple script to overlay swing highs and lows.
A Swing High (SH): a price bar high preceded by two lower highs (LH) and followed by two lower highs (LH).
