Money Flow Index Divergences [UAlgo]🔶 Description:
This script aims providing traders with comprehensive insights into market dynamics. The indicator offers a multi-faceted approach to technical analysis, encompassing various features to enhance trading decision-making:
🔶Key Features:
Money Flow Index Oscillator Settings: Users can customize the length of the MFI oscillator and the confluence bar length to suit their trading preferences.
Gradient Color Visualization: The indicator utilizes gradient colors to visually represent the MFI oscillator, with colors shifting based on MFI values for enhanced clarity.
Confluence Area Calculation: A confluence area is calculated based on the specified length, providing additional context for MFI movements (Aims to provide longer-term information).
Divergence Detection: The script identifies bullish and bearish divergences by comparing price action with MFI oscillator movements, aiding traders in spotting potential trend reversals.
Customizable Sensitivity: Traders can adjust the sensitivity settings for divergence detection according to their trading strategies.
🔶Calculations:
MFI Calculation:
The script starts by calculating the Money Flow Index (MFI) using the ta.mfi() function, which takes the typical price (hlc3) and a length parameter (default set to 14). The MFI is normalized to a range between 0 and 1 for color gradient calculations.
Another MFI is calculated with a longer length (lengthConfluence, default set to 50) for confluence analysis. Similar to the MFI calculation, the highest and lowest MFI values within the confluence length are determined. The MFI values within the confluence length are normalized. The normalized MFI values are used to calculate the gradient color for the confluence area.
Gradient Color Calculations:
Two sets of RGB color values (redRGB, greenRGB, blueRGB) and (redRGB2, greenRGB2, blueRGB2) are defined to create a gradient color scheme for the MFI plot. The MFI value is normalized between the highest and lowest MFI values within the specified length. The normalized MFI value is then used to calculate the red, green, and blue components of the gradient color.
Plotting Confluence Area:
Two horizontal lines (upperArea and lowerArea) are plotted to highlight the confluence area.
The area between these lines is filled with the gradient color representing MFI confluence.
Divergence Calculations:
Bullish and bearish divergences are identified based on specific conditions related to the MFI and price action.
Bullish divergence occurs when the MFI makes a lower low while price makes a higher low.
Bearish divergence occurs when the MFI makes a higher high while price makes a lower high.
The sensitivity (Pivot calculation length) of divergence detection can be adjusted.
Overall, this script provides a comprehensive analysis of the Money Flow Index, including plotting the MFI with a gradient color scheme, identifying confluence areas, and detecting bullish and bearish divergences to aid traders in making informed decisions.
🔶Disclaimer:
-This script is provided for informational and educational purposes only and should not be considered financial advice.
-Trading involves risk, and users should conduct their own research and analysis before making any investment decisions.
-The author of this script and UAlgo are not liable for any losses incurred as a result of using this indicator.
-Users are encouraged to exercise caution and practice risk management when trading in the financial markets.
Volume
Liquidity Trendline With Signals [BigBeluga]The Liquidity Trendline is an indicator designed to identify potential breakouts by utilizing pivot points. These pivotal moments can trigger significant market reactions, either by breaking out or by serving as breakout and retest signals.
🔶 FEATURES
The indicator contains the following features:
Period of the calculation
Padding (spacing between the 2 lines)
Signal for breakouts
🔶 USAGE
As shown in the example, breakouts can be powerful points to see reversions in the market and can lead to a lot of volatility in the market.
When a trendline is broken, a signal will be plotted; the user can disable/enable those signals.
A trendline is formed when 2 consecutive pivot points are found, each of them lower or higher than the previous one. this is the anchor point for our trend line that we will use to spot rejection or breakouts
The delay in the creation of those trend lines will be the period input used to find the pivot point on the chart.
Another good example is using these trendlines as simple retests.
Prices bouncing on top of them will suggest a possible continuation of the current trend.
We can filter out stronger breakouts by looking at how many times the price has rejected the trendline, more rejections will result in more liquidity once the price breaks it.
Signals are plotted on the chart for every breakout that happens.
Another good utility is simply using them as retest once the price breaks those levels and holding above/below them, indicating a possible support or resistance area used for confluence
Here is another good example of how we can correctly spot price deviating from our trendline and spotting powerful continuation in price.
As said before we can filter out bad and good breakouts simply by looking at how many times rejected from those levels.
More rejection will result in a stronger reaction
🔶 CONCLUSION
This script is as simple as that and can be used in a few ways to spot reversals, price continuation, or even sentiment in price (bullish or bearish).
Cumulative Delta Volume WaveIntroducing an Enhanced Version of the CDV by LonesomeTheBlue
For the original version and description check this link:
What Makes This Version Different than the original?
This enhanced version of the CDV indicator incorporates advanced signal processing techniques to bring new depth to market analysis.
Standard Deviation Bands and EMAs: These additions to the CDV offer a visual representation of significant market movements—highlighting major pumps and dumps, as well as identifying potential support and resistance levels.
Color-Coded Insights: The standard deviation bands utilize color coding based on signal processing principles. This feature becomes increasingly useful the more you zoom out, making it easier to observe and interpret market waves.
Market Maker Activity: By examining fluctuations within the standard deviation bands, traders can gauge when Market Makers are actively maneuvering to establish their long and short positions, often at the expense of retail traders.
EMA Support and Resistance: The embedded Exponential Moving Averages (EMAs) serve as dynamic support and resistance levels. Analyzing these can help traders determine the continuing strength of a market move, whether bullish or bearish.
Visual Guide to the Basics
For a clearer understanding of what this enhanced indicator can show, please refer to the image below:
And in addition to all the above one can detect relevant W and M structures way easier with this indicator ;)
Period Value ZonesPeriod Value Zones is designed to help traders understand where current value is being found by splitting the day into 3 key periods based on common reversal times recognized for intraday trading.
By splitting the day into 3 periods, we can more efficiently determine where short-term value lies by using only the data we consider relevant during these periods of time.
> Overview
This indicator is recommended for low timeframe trading during the New York RTH Session.
By only trading within this session, we can ensure that volume and volatility remain fairly consistent.
Within each Period, you will find on the chart:
Value Area Points from Previous period (Value High(VAH)/Value Low(VAL)/Point of Control(POC))
Volume Weighted Average Price (VWAP) Cloud, based on High and Low values during the period.
Value Zone based Potential Reversal Zones.
Additional Displays:
Potential Reversal Detection Signals with Invalidation Levels
Forward Plotted Key Market times.
> Components
• Value Area Points
VAH/VAL/POC are important volume profile points which display where the market has previously held value.
We use these specific levels as support and resistance to confirm direction by monitoring interactions between price and these important levels.
The VAH and VAL lines change colors based on price's interaction with them to confirm whether that level should be regarded as support or resistance.
• VWAP Cloud
VWAP is a common metric used to determine the strength of a trend, and provides a point to look for re-bid & re-offer.
When price breaks out of our Fixed Value zone, VWAP helps us determine further direction.
Also included is VWAP deviation bands, for traders who would prefer to view the standard deviation away from this cloud as well.
• Value Reversal Zones
These Zones are calculated based on extensions of the Period Value Zone.
While in a balanced market, these zones have been shown to provide potential reversal opportunities.
• Potential Reversal Signals
These signals are based on an advanced method for confirming a higher-low or lower-high to reasonably create a signal that is not very laggy but also rooted in sound logic.
While helpful, These are NOT buy or sell signals, and you should always use further analysis to decide the next steps to take.
When a signal appears, an associated invalidation level is also displayed, if this level is crossed the associated signal is no longer considered relevant.
• Key Market Times
These are important times within the day that normally produce volatility caused by daily market catalysts.
Each key time is forward plotted 1 hour before it occurs to provide a clear heads up for potential opportunity.
Opening Fuel: Known for having an increase in Volume after the formation of the 15min Opening Range.
1st Reversal: Common Area for seeing initial large positioning effecting the market, often causing reversals.
Initial Balance Close: End of the first hour, a common positioning tool for futures traders.
2nd Reversal: Positioning is typically reactionary to IB Close, alongside Euro Traders Exiting Positions.
Euro Close: Close of Europe Session, a common positioning tool for futures traders.
Lunch: Usually Low Volume, traders are often out to lunch.
Lunch End: Volume tends to re-enter, as traders come back from lunch.
1st Reversal: New Hour, common area to see large position re-enter the market.
Bonds Close: Bonds markets close, Equities reacting to close of the bond market.
1st MOC: Initial Market on Close orders are places, market reaction is normally expected off of MOC positioning.
MOC Close: As MOC orders are reported, volatility is likely found within the market.
> Methodology
This indicator can be used with the same principles as trading balanced volume profiles.
Rule 1: Unless the price breaks and holds Value High or Value Low, we should expect buyers and sellers to maintain the current balance.
Rule 2: If we break and push away from the Period Value High, we should treat that level as supportive on retest unless we look back below and sellers defend on retest.
Rule 3: If we break and push away from the Period Value Low, we should treat that level as resistance on retest unless we look back above and buyers defend on retest.
Rule 4: If we recover Value Low, and it becomes supportive, we look for our Period POC and Period Value High as our targets above.
Rule 5: If we fail to hold Period Value High, and it becomes resistance, we look for our Period POC and Period Value Low as targets below.
Balance in the context of this indicator is considered as the area between Period Value High and Period Value Low
Acceptance outside of balance in the context of this indicator is considered as Period Value Low or High, becoming supportive or resistance.
> Examples
Theoretical Example:
In the bullish example below, price holds VWAP and makes POC supportive, showing interest from buyers pushing to Value High.
Real-World Example:
Below is an example of the same setup as the theoretical example, taking place on a real futures chart.
By utilizing these rules, we can look for opportunities at these levels and have a plan for how we should be interacting with them.
This will help us determine likely targets and risk-off levels that are based on volume and current "value" from participants.
Volume Based S/R with EMA Crossover SignalsThis Pine Script indicator, titled "Volume Based S/R with EMA Crossover Signals," is designed for use on the TradingView platform and overlays on price charts to help traders identify potential buy and sell opportunities based on volume changes and EMA (Exponential Moving Average) crossovers. Let's break down its components for a detailed understanding:
Inputs
length: The number of bars used to calculate the standard deviation of the volume change. This parameter helps in identifying significant changes in volume over a specified period.
threshold: A multiplier applied to the standard deviation of volume change to determine significant spikes in volume, which are then used to identify support and resistance levels.
smoothLength: The length of the EMA used to smooth the price data, providing a clearer view of the overall price trend and helping to confirm trade signals.
fastEMALength and slowEMALength: The lengths of the fast and slow EMAs, respectively. These are used to generate crossover signals, where the crossing of the fast EMA over the slow EMA may indicate a potential entry or exit point.
Calculations
Volume Change and Standard Deviation: The script calculates the percentage change in volume from one bar to the next and then computes the standard deviation of these changes over the specified length. This process helps identify unusual volume activity, which can precede significant price movements.
Signal Generation Based on Volume: When the absolute value of the volume change divided by its standard deviation exceeds the threshold, it signals significant volume activity, potentially indicating strong support or resistance levels at previous highs or lows.
Smoothed Price: An EMA applied to the closing prices over smoothLength bars helps to confirm the trend direction and filter out noise.
EMA Crossover Signals: The script calculates two EMAs based on the fastEMALength and slowEMALength inputs. A crossover of these two averages generates potential buy or sell signals.
Logic for Buy/Sell Signals
Buy Signal: Generated when the price is above the identified support level (determined by significant volume activity), the fast EMA crosses above the slow EMA, and the price is also above the smoothed price. This confluence of conditions suggests upward momentum and potential buying opportunity.
Sell Signal: The opposite conditions generate a sell signal — when the price is below the identified resistance level, the fast EMA crosses below the slow EMA, and the price is below the smoothed price, indicating downward momentum and a potential selling opportunity.
Plotting
Support and Resistance Levels: Plotted as circles on the chart, with resistance levels in red and support levels in green, based on significant volume activity.
Smoothed Price and EMAs: The smoothed price line and both EMAs are plotted on the chart to help visually assess the trend and the crossover signals.
Buy and Sell Signals: Represented by shapes plotted on the chart, indicating the recommended trading action (buy or sell) based on the combined indicator logic.
Filling Between Support and Resistance: For visual clarity, the area between the identified support and resistance levels is filled, highlighting the range within which the price is expected to fluctuate.
This indicator offers a multi-faceted approach to trading, combining volume analysis with trend following via EMA crossovers. By identifying significant volume-based support and resistance levels and confirming trend direction with EMA crossovers and smoothed price trends, traders can make more informed decisions regarding entry and exit points. However, it's important to use this indicator as part of a comprehensive trading strategy, considering other factors such as market conditions, news, and technical analysis from other indicators.
AI Adaptive Money Flow Index (Clustering) [AlgoAlpha]🌟🚀 Dive into the future of trading with our latest innovation: the AI Adaptive Money Flow Index by AlgoAlpha Indicator! 🚀🌟
Developed with the cutting-edge power of Machine Learning, this indicator is designed to revolutionize the way you view market dynamics. 🤖💹 With its unique blend of traditional Money Flow Index (MFI) analysis and advanced k-means clustering, it adapts to market conditions like never before.
Key Features:
📊 Adaptive MFI Analysis: Utilizes the classic MFI formula with a twist, adjusting its parameters based on AI-driven clustering.
🧠 AI-Driven Clustering: Applies k-means clustering to identify and adapt to market states, optimizing the MFI for current conditions.
🎨 Customizable Appearance: Offers adjustable settings for overbought, neutral, and oversold levels, as well as colors for uptrends and downtrends.
🔔 Alerts for Key Market Movements: Set alerts for trend reversals, overbought, and oversold conditions, ensuring you never miss a trading opportunity.
Quick Guide to Using the AI Adaptive MFI (Clustering):
🛠 Customize the Indicator: Customize settings like MFI source, length, and k-means clustering parameters to suit your analysis.
📈 Market Analysis: Monitor the dynamically adjusted overbought, neutral, and oversold levels for insights into market conditions. Watch for classification symbols ("+", "0", "-") for immediate understanding of the current market state. Look out for reversal signals (▲, ▼) to get potential entry points.
🔔 Set Alerts: Utilize the built-in alert conditions for trend changes, overbought, and oversold signals to stay ahead, even when you're not actively monitoring the charts.
How It Works:
The AI Adaptive Money Flow Index employs the k-means clustering machine learning algorithm to refine the traditional Money Flow Index, dynamically adjusting overbought, neutral, and oversold levels based on market conditions. This method analyzes historical MFI values, grouping them into initial clusters using the traditional MFI's overbought, oversold and neutral levels, and then finding the mean of each cluster, which represent the new market states thresholds. This adaptive approach ensures the indicator's sensitivity in real-time, offering a nuanced understanding of market trend and volume analysis.
By recalibrating MFI thresholds for each new data bar, the AI Adaptive MFI intelligently conforms to changing market dynamics. This process, assessing past periods to adjust the indicator's parameters, provides traders with insights finely tuned to recent market behavior. Such innovation enhances decision-making, leveraging the latest data to inform trading strategies. 🌐💥
High Volume AlertThe High Volume Alert Script is developed for all traders focusing on volume analysis in their trading strategies, providing alerts for unusually high trading volumes during specified trading sessions.
Functionality:
Volume Moving Average Calculation:
Average Volume = Moving Average(Volume) = Sum of last the x last candles Volume
Where n is the user-defined period for the moving average calculation (denoted as movingaverageinput in the script. This moving average serves as the baseline to compare current volume levels against historical averages.
High Volume Detection:
HighVolume = CurrentVolume >= (MA(Volume) x HighVolumeRatio)
Here, HighVolumeRatio is a user-defined multiplier that sets the threshold for what is considered high volume. If the current volume exceeds this threshold (the product of the moving average of volume and the HighVolumeRatio ), the script identifies this as a high-volume event.
Session Filtering:
The script further refines these alerts by ensuring they only trigger during the specified trading session, enhancing relevance for traders interested in specific market hours. This session is defined by the sess and timezone parameters.
Visualisation and Alerts:
If high volume is detected (HighVolume = True), the script colors the volume bar with the highVolumeColor . If the option is selected, it also changes the color of the candlestick to either highVolumeCandleColorUp (for bullish candles) or highVolumeCandleColorDown (for bearish candles), depending on the price movement within the high-volume period. An alert is generated through the alertcondition function when high volume is detected during the specified session, notifying the trader of potentially significant market activity.
Application in Trading:
This indicator serves traders who prioritize volume as a leading indicator of potential price movement. High trading volumes may indicate the presence of significant market activity, often associated with events like news releases, market openings, or large trades, which can precede price movements.
Originality and Practicality:
This script is self-developed, aiming to fill the gap in automatic ratio adjusted volume alerts within the TradingView environment.
Conclusion:
The High Volume Alert Script is an essential tool for traders who integrate volume analysis into their strategy, offering tailored alerts and visual cues for high volume periods.
Compliance and Limitations:
The script complies with TradingView scripting standards, ensuring no lookahead bias and maintaining real-time data integrity. However, its utility depends on the availability on volume data, and please be aware that forex pairs never offer real volume data, this tool is best used with a exchange traded symbol.
Relative Volume / Volume Breakout Multiplier By Afnan TajuddinIntroducing the Relative Volume / Volume Breakout Multiplier (RVI) , RVI is specifically designed for traders who incorporate volume breakout analysis into their trading strategies, particularly breakout traders.
This indicator provides a unique perspective on volume dynamics by quantifying the extent of volume breakouts in relation to the Simple Moving Average (SMA). It offers an upgraded version of the default volume indicator on TradingView, with the added feature of Relative Volume.
For example, if the volume SMA is 100M and the current volume is 200M, the indicator will return a breakout number of 2.0, indicating that the current volume is twice that of the volume SMA. Conversely, if the volume SMA is 100M and the current volume is 50M, the indicator will return a value of 0.50, indicating that the current volume is half of the volume SMA.
This tool can be a very helpful for breakout traders, helping them identify potential trading opportunities and assess volume strength more effectively. this indicator is a must-have in the toolkit of any trader who focuses on volume breakout analysis.
Remember, every tool we use, every analysis we perform, is a step towards becoming better traders. So, let’s embrace this journey of continuous learning and improvement together. As the saying goes, “The only limit to our realization of tomorrow will be our doubts of today." Let’s step into the future with confidence, armed with the right tools and the right mindset.
Lastly, a big thank you for your support, your likes, and your comments. They mean a lot! If you have any questions, feel free to ask. Together, let’s make trading a rewarding experience!
MFX Ultimate Scalper [Mohs Mayfair]MFX Ultimate Scalper is an all-in-one indicator that incorporates 5+ unique components designed for interoperability & confluence with one another to provide a powerful trend following & reversal detection experience.
Users can create various ways to utilize the indicator's features together such as looking for periods of price exhaustion in the market alongside strong reversal signals appearing or getting real-time divergence signals alongside a shift in volume with the volume overlay setting in the market to predict upcoming trends.
The indicator's confirmation feature integrates customizable moving averages and the Volume Weighted Average Price (VWAP), providing additional layers of insight. Traders can fine-tune moving averages to track trend reversals and retracements with precision, while the VWAP offers valuable insights into price and volume dynamics, aiding in the assessment of market sentiment and trends.
This indicator is described as an ”Ultimate Scalper” as it's made up of many different components that can create a systematic approach to analyzing markets alone, however, the indicator also can serve as a great secondary piece to a user's primary analysis.
⨭ FEATURES
Below we describe each component of MFX Ultimate Scalper in order of each's significance for the most confluent analysis possible.
➟ Heat Zones - indicating the relative intensity of price movement, with widening zones suggesting increased volatility and potential trading opportunities.
➟ Exhaustion Signals - Small triangles on the upper or lower heat band zones represent high frequency points that indicate possible reversals or a warning signal to upcoming larger reversal signals. Discerning instances of heightened buying or selling pressure, delineating zones of market saturation and depletion using the historical strength or weakness of a stock or market based on the closing prices of a recent trading period.
➟ Reversal Signals - Kalman filter and Hull trend indicators can reveal trend reversals by dynamically adapting to market conditions and providing timely signals based on smoothed price movements.
➟ Volume Overlay - Upon calculating the relative close of candles, this option allows a coloured overlay upon candles to help confirm volume changes in the market. When price of a closed candle is greater than then open price, the bar will print with a green overlay,
Generally, we recommend using these features in order from first to last, however it is always most productive to ensure you find further confluence alongside any signal that is generated using general market structure and analysis (such as drawing independent supply and demand zones for eg).
⨭ USAGE GUIDE
In the images below, we can see 3 points of interest to a user analyzing MFX Ultimate Scalper based on various different behaviors.
In the circled areas of interest price moves into a one of the heat zones and begins to print a small green or red triangle either above or below the candlestick structure - green = looking for buys and a possible bullish reversal & red = looking for sells and a possible bearish reversal.
As price begins to print these pre reversal points of exhaustion within these heat zones we can begin looking at the market.
This can be used independently or when wanting to perhaps increase the amount of confirmations we can look to apply the reversal confirmation setting, as per below:
What makes this signal particularly more of interest opposed to other reversal signals without the confirmation toggle applied that may not play out right away is the Kalman filter and Hull trend indicator begins to show a clear trend reversal. We can see that it may print the BUY or SELL label a few candles after the initial Small triangles in the upper or lower heat band zones however can be used as a more conservative point of trade entry.
This is a great example above showing how the momentum indicator that measures the magnitude of recent price changes to analyze overbought or oversold conditions (red and green triangles in the heat zone bands) can sometimes print multiple entries. We suggest that if you are looking to increase the accuracy of the signals we found moving to a higher time frame after more than 3 of these indicators have printed, helps.
It is a great indication that price may be looking to reverse and the pressure occurring and that the market could easily reverse in these conditions.
The candles that follow with the confirmation toggle setting means that you could move into a position a little later into the new trend reversal or retracement but also ensures that there is an extra level of confirmation that one is beginning or has begun.
The volume overlay setting is a fantastic tool to use when wanting to confirm your entries for trade and print a clear example in volume shift in the market - the greater the green candle, the greater the buying momentum. The greater the red candle, the greater the selling momentum,
This analysis combined gave us a further indication of a larger reversal which played out with no lag at all as all reversal signals are predictive separate from the Volume Overlay itself, which can be used as a further trend following approach alongside signals & custom hull trend alongside specific moving average confirmations.
In the image above we can see 3 possible setups and 3 different ways each using individual options.
Working left to right, the first setup adheres to:
➟PRICE IN THE BUY ZONE
➟GREEN BUY TRIANGLE REVERSAL
➟GREEN CANDLE VOLUME CHANGE
➟NO BLUE TREND LABEL CONFIRMATION
When scalping a position using the above signals we would aim for 10-15 pips which we can see here, with no drawdown was able to close and hit our suggested take profit within approximately an hour even though the confirmation trend reversal did not print on the chart
Setup two is another BUY signal and adheres to:
➟PRICE IN THE BUY ZONE
➟GREEN BUY TRIANGLE PRINTED
➟BLUE CONFIRMATION PRINTED
➟WAIT FOR THE NEXT CANDLE TO CLOSE
➟TAKE A BUY
This time we have a clear price exhaustion with the candles closing within the heat zones, just the first buy zone. The confirmation reversal trend prints soon after and although we do not have any confirmation on the volume change overlay we can infer that given they were printed very shortly prior to this confirmation and the preliminary Scalpers green triangles had also shown, the trade confirmation is still valid.
You could perhaps place your stop loss at the base of the reversal blue buy label and then set a 1:2 ratio or perhaps simply stick to the 10-15 pips.
With our final example the confirmations are:
➟PRICE IN THE SELL ZONE
➟RED SELL TRIANGLE REVERSAL
➟THE RED TREND CONFIRMATION LABEL
WAS TOO MANY CANDLES AWAY
TO CONSIDER THE TRADE
The volume indicator printing over an engulfing bearish candle whilst also being within our heat zone exhaustion sell area shows a shift in volume and momentum - as calculated, the open price of the candle is greater than that of the closed previous one thus showing RED overlay of the candle.
In order to better experience the volume overlay option we suggest changing your settings on tradingview by clicking the chart screen settings > symbol and changing the body and wicks of the candlesticks to grey.
We can potentially determine at certain points when to 'filter out' reversal signals or to just consider them merely indications of local tops/bottoms opposed to significant tops/bottoms.
Analyzing the reversal confirmation option is useful to consider a trend potentially coming to an end. We recommend studying the outlined chart above & the list of indications at each shaded area to develop a deep understanding of how to navigate varying market conditions & spot various points of confluence during reversals.
⨭CONCLUSION & ACCESS
This indicator is an extremely comprehensive approach to a variety of volume and volatility based tools predominantly that allows users to further develop a systematic approach to trading and can be paired alongside other forms of technical analysis.
Although we believe this indicator to be useful, it's critical to understand that past performance is not necessarily indicative of future results and there are many more factors that go into being a profitable trader.
You can see the Author's instructions below to get instant access to MFX Ultimate Scalper by Mohs Mayfair
Wavelet & Fourier Smoothed Volume zone oscillator (W&)FSVZO Indicator id:
USER;e7a774913c1242c3b1354334a8ea0f3c
(only relevant to those that use API requests)
MEANINGFUL DESCRIPTION:
The Volume Zone oscillator breaks up volume activity into positive and negative categories. It is positive when the current closing price is greater than the prior closing price and negative when it's lower than the prior closing price. The resulting curve plots through relative percentage levels that yield a series of buy and sell signals, depending on level and indicator direction.
The Wavelet & Fourier Smoothed Volume Zone Oscillator (W&)FSVZO is a refined version of the Volume Zone Oscillator, enhanced by the implementation of the Discrete Fourier Transform. Its primary function is to streamline price data and diminish market noise, thus offering a clearer and more precise reflection of price trends.
By combining the Wavalet and Fourier aproximation with Ehler's white noise histogram, users gain a comprehensive perspective on volume-related market conditions.
HOW TO USE THE INDICATOR:
The default period is 2 but can be adjusted after backtesting. (I suggest 5 VZO length and NoiceR max length 8 as-well)
The VZO points to a positive trend when it is rising above the 0% level, and a negative trend when it is falling below the 0% level. 0% level can be adjusted in setting by adjusting VzoDifference. Oscillations rising below 0% level or falling above 0% level result in natural trend.
ORIGINALITY & USFULLNESS:
Personal combination of Fourier and Wavalet aproximation of a price which results in less noise Volume Zone Oscillator.
The Wavelet Transform is a powerful mathematical tool for signal analysis, particularly effective in analyzing signals with varying frequency or non-stationary characteristics. It dissects a signal into wavelets, small waves with varying frequency and limited duration, providing a multi-resolution analysis. This approach captures both frequency and location information, making it especially useful for detecting changes or anomalies in complex signals.
The Discrete Fourier Transform (DFT) is a mathematical technique that transforms discrete data from the time domain into its corresponding representation in the frequency domain. This process involves breaking down a signal into its individual frequency components, thereby exposing the amplitude and phase characteristics inherent in each frequency element.
This indicator utilizes the concept of Ehler's Universal Oscillator and displays a histogram, offering critical insights into the prevailing levels of market noise. The Ehler's Universal Oscillator is grounded in a statistical model that captures the erratic and unpredictable nature of market movements. Through the application of this principle, the histogram aids traders in pinpointing times when market volatility is either rising or subsiding.
DETAILED DESCRIPTION:
My detailed description of the indicator and use cases which I find very valuable.
What is oscillator?
Oscillators are chart indicators that can assist a trader in determining overbought or oversold conditions in ranging (non-trending) markets.
What is volume zone oscillator?
Price Zone Oscillator measures if the most recent closing price is above or below the preceding closing price.
Volume Zone Oscillator is Volume multiplied by the 1 or -1 depending on the difference of the preceding 2 close prices and smoothed with Exponential moving Average.
What does this mean?
If the VZO is above 0 and VZO is rising. We have a bullish trend. Most likely.
If the VZO is below 0 and VZO is falling. We have a bearish trend. Most likely.
Rising means that VZO on close is higher than the previous day.
Falling means that VZO on close is lower than the previous day.
What if VZO is falling above 0 line?
It means we have a high probability of a bearish trend.
Thus the indicator returns 0 when falling above 0 (or rising bellow 0) and we combine higher and lower timeframes to gauge the trend.
In the next Image you can see that trend is positive on 4h, neutral on 12h and positive on 1D. That means trend is positive.
I am sorry, the chart is a bit messy. The idea is to use the indicator over more than 1 Timeframe.
What is approximation and smoothing?
They are mathematical concepts for making a discrete set of numbers a
continuous curved line.
Fourier and Wavelet approximation of a close price are taken from aprox library.
Key Features:
You can tailor the indicator to your preferences with adjustable parameters such as VZO length, noise reduction settings, and smoothing length.
Volume Zone Oscillator (VZO) shows market sentiment with the VZO, enhanced with Exponential Moving Average (EMA) smoothing for clearer trend identification.
Noise Reduction leverages Euler's White noise capabilities for effective noise reduction in the VZO, providing a cleaner and more accurate representation of market dynamics.
Choose between the traditional Fast Fourier Transform (FFT), the innovative Double Discrete Fourier Transform (DTF32) and Wavelet soothed Fourier soothed price series to suit your analytical needs.
Image of Wavelet transform with FAST settings, Double Fourier transform with FAST settings. Improved noice reduction with SLOW settings, and standard FSVZO with SLOW settings:
Fast setting are setting by default:
VZO length = 2
NoiceR max Length = 2
Slow settings are:
VZO length = 5 or 7
NoiceR max Length = 8
As you can see fast setting are more volatile. I suggest averaging fast setting on 4h 12h 1d 2d 3d 4d W and M Timeframe to get a clear view on market trend.
What if I want long only when VZO is rising and above 15 not 0?
You have set Setting VzoDifference to 15. That reduces the number of trend changes.
Example of W&FSVZO with VzoDifference 15 than 0:
VZO crossed 0 line but not 15 line and that's why Indicator returns 0 in one case an 1 in another.
What is Smooth length setting?
A way of calculating Bullish or Bearish FSVZO.
If smooth length is 2 the trend is rising if:
rising = VZO > ta.ema(VZO, 2)
Meaning that we check if VZO is higher that exponential average of the last 2 elements.
If smooth length is 1 the trend is rising if:
rising = VZO_ > VZO_
Rising is boolean value, meaning TRUE if rising and FALSE if falling.
Mathematical equations presented in Pinescript:
Fourier of the real (x axis) discrete:
x_0 = array.get(x, 0) + array.get(x, 1) + array.get(x, 2)
x_1 = array.get(x, 0) + array.get(x, 1) * math.cos( -2 * math.pi * _dir / 3 ) - array.get(y, 1) * math.sin( -2 * math.pi * _dir / 3 ) + array.get(x, 2) * math.cos( -4 * math.pi * _dir / 3 ) - array.get(y, 2) * math.sin( -4 * math.pi * _dir / 3 )
x_2 = array.get(x, 0) + array.get(x, 1) * math.cos( -4 * math.pi * _dir / 3 ) - array.get(y, 1) * math.sin( -4 * math.pi * _dir / 3 ) + array.get(x, 2) * math.cos( -8 * math.pi * _dir / 3 ) - array.get(y, 2) * math.sin( -8 * math.pi * _dir / 3 )
Euler's Noice reduction with both close and Discrete Furrier approximated price.
w = (dft1*src - dft1 *src ) / math.sqrt(math.pow(math.abs(src- src ),2) + math.pow(math.abs(dft1 - dft1 ),2))
filt := na(filt ) ? 0 : c1 * (w*dft1 + nz(w *dft1 )) / 2.0 /math.abs(dft1 -dft1 ) + c2 * nz(filt ) - c3 * nz(filt )
Usecase:
First option:
Select the preferred version of DFT and noise reduction settings based on your analysis requirements.
Leverage the script to identify Bullish and Bearish trends, shown with green and red triangle.
Combine Different Timeframes to accurately determine market trend.
Second option:
Pull the data with API sockets to automate your trading journey.
plot(close, title="ClosePrice", display=display.status_line)
plot(open, title="OpenPrice", display=display.status_line)
plot(greencon ? 1 : redcon ? -1 : 0, title="position", display=display.status_line)
Use ClosePrice, OpenPrice and "position" titles to easily read and backtest your strategy utilising more than 1 Time Frame.
Indicator id:
USER;e7a774913c1242c3b1354334a8ea0f3c
(only relevant to those that use API requests)
Fair Value Gap Screener | Flux Charts💎 GENERAL OVERVIEW
Introducing our new Fair Value Gap Screener! This screener can provide information about the latest Fair Value Gaps in up to 5 tickers. You can also customize the algorithm that finds the Fair Value Gaps and the styling of the screener.
Features of the new Fair Value Gap (FVG) Screener :
Find Latest Fair Value Gaps Accross 5 Tickers
Shows Their Information Of :
Latest Status
Number Of Retests
Consumption Percent
Bullish & Bearish Volume
Customizable Algoritm / Styling
📌 HOW DOES IT WORK ?
A Fair Value Gap generally occur when there is an imbalance in the market. They can be detected by specific formations within the chart. This screener then finds Fair Value Gaps accross 5 different tickers, and shows the latest information about them.
Status ->
Far -> The current price is far away from the FVG.
Approaching ⬆️/⬇️ -> The current price is approaching the FVG, and the direction it's approaching from.
Inside -> The price is currently inside the FVG.
Retests -> Retest means the price tried to invalidate the FVG, but failed to do so. Here you can see how many times the price retested the FVG.
Consumed -> FVGs get consumed when a Close / Wick enters the FVG zone. For example, if the price hits the middle of the FVG zone, the zone is considered 50% consumed.
Bullish / Bearish Volume -> Bullish & Bearish volume of a FVG is calculated by analyzing the bars that formed it. For example in a bullish FVG, the bullish volume is the total volume of the first 2 bars forming the FVG, and the bearish volume is the volume of the 3rd bar that forms it.
🚩UNIQUENESS
This screener can detect latest Fair Value Gaps and give information about them for up to 5 tickers. This saves the user time by showing them all in a dashboard at the same time. The screener also uniquely shows information about the number of retests and the consumed percent of the FVG, as well as it's bullish & bearish volume. We believe that this extra information will help you spot reliable FVGs easier.
⚙️SETTINGS
1. Tickers
You can set up to 5 tickers for the screener to scan Fair Value Gaps here. You can also enable / disable them and set their individual timeframes.
2. General Configuration
Zone Invalidation -> Select between Wick & Close price for FVG Zone Invalidation.
Zone Filtering -> With "Average Range" selected, algorithm will find FVG zones in comparison with average range of last bars in the chart. With the "Volume Threshold" option, you may select a Volume Threshold % to spot FVGs with a larger total volume than average.
FVG Detection -> With the "Same Type" option, all 3 bars that formed the FVG should be the same type. (Bullish / Bearish). If the "All" option is selected, bar types may vary between Bullish / Bearish.
Detection Sensitivity -> You may select between Low, Normal or High FVG detection sensitivity. This will essentially determine the size of the spotted FVGs, with lower sensitivies resulting in spotting bigger FVGs, and higher sensitivies resulting in spotting all sizes of FVGs.
AlgoRhythmica - Liquidity StatsThe AlgoRhythmica - Liquidity Stats is a comprehensive trading indicator designed to analyze and plot liquidity data across various time periods. It uses estimated liquidity data and allows traders to select between 6 different scopes to analyze and view that data.
What is liquidity?
Liquidity refers to how quickly and easily an asset can be bought or sold in the market without affecting its price. High liquidity means that there are many buyers and sellers, and transactions can happen rapidly and smoothly.
Liquidity analysis involves examining where and how liquidity is distributed across different price levels.
Price often moves from liquidity zone to liquidity zone, and therefore, having an idea of whether there's more liquidity above or below price give traders an idea of where price might go next.
How does it work?
Internally, the indicator is simulating a complete liquidity map of the chart and cleverly estimates where traders might face losses (liquidations). It does this by looking at the volume of trading in each candle and projecting where, given certain common trading practices like using 10x or 20x leverage, traders are likely to get squeezed out of their positions. These projected squeeze-out points helps in visualizing potential future price movements, as prices often move towards these areas to balance out. But instead of rendering the liquidity on the main chart, which can get cluttered, this data is viewed in a separate panel through a selection of different scopes.
Keep in mind though, this liquidity data here is just an estimation based on general assumptions, it doesn't have access to actual liquidity data.
However, some risk and leverage amounts are more common than others. People like using those even numbers like 10x, 20x leverage or 1% stop loss etc. And that's why the liquidity estimations in this and other liquidity indicators can still be quite accurate.
Special Feature:
A special feature to this indicator is it's unique eye for 'vector candles'—those high-impact candles signaling significant market moves. It tracks these candles over time to see if the market revisits them, a behavior that can indicate major market maker activities and potential price reversal points.
The 6 different plotting scopes:
Liquidity Dominance:
The Liquidity Dominance is the long liquidity minus the short liquidity. When there's more liquidity above price, price tends to go up. There's also a 50 EMA running through it, indicating whether the liquidity dominance is particularly extended.
There is also a setting for normalizing the dominance to an adjustable EMA. Normalizing means that the value of the EMA will then become the zero-value of the dominance. This can be particularly effective in trending markets because it allows traders to see more clearly how the liquidity deviates from it's EMA.
Split Dominance:
This is simply the long and short liquidity plotted separately with a 200 SMA running through. This gives traders a slight more in-depth look at the liquidity. Looking at the difference between long and short liquidity and using the SMA as a reference, traders can more easily spot a trend shift and whether the liquidity types are about to cross each other.
Stochastic LQ:
Instead of using price data, the Stochastic LQ applies the stochastic oscillator formula to liquidity data. It measures the position of the current liquidity level relative to its high-low range over a specified period. By doing so, it aims to provide a clear picture of whether buyers or sellers are dominating the liquidity landscape within the chosen lookback period.
Liquidations:
This will display the amount of volume that was consumed when price wicked or crossed into a liquidity level on that particular bar. There's also a setting to cumulate the liquidations over the selected period. This will show you whether longs or shorts are suffering the most.
Vector Count:
This tool counts the number of unrecovered vector candles. If there are more to the upside, price is likely to go up. The vector count also has a setting for normalizing the count to an EMA. Some older vectors never get recovered and therefore normalizing the count to an EMA can be a more useful way of focusing on more recent vectors.
Total LQ:
By focusing on the total liquidity without differentiating between long and short positions, this tool simplifies the liquidity landscape. High total liquidity can support the sustainability of current trends, as it shows that there is enough market participation to support the price direction.
Additional Features:
Vector Recovery Dots:
A feature to visually identify recovered vector candles, indicating potential market reaction points for strategic entry or exit decisions.
This is used in combination with any of the tools. It will plot dots whenever a vector candle has been recovered. A recovered vector candle while liquidity is extended, could indicate a top or a bottom.
Dynamic Period Selection:
Choose between aggregating the liquidity over a fixed period (Daily, Weekly, Monthly, Yearly etc.) which then stays the same when the user switches timeframe, or choose a dynamic period with a fixed amount of candles which then dynamically shifts when changing time frame. This offers flexibility to look at liquidity over different time frames. Liquidity that falls outside of the selected period is considered gone, as traders eventually close their positions.
Lookback and Sensitivity Adjustment:
Customize the lookback period for volume averages and adjust sensitivity to refine the indicator's responsiveness to volume changes and liquidity calculations.
Leverage Settings:
Input specific leverage amounts to calculate liquidity on. These should be adjusted depending on the chart and timeframe the user is looking at. Decide on up to three different leverage amounts that traders would typically use on the chart and timeframe you're on. The liquidity will then be calculated using that leverage.
Tooltips:
The indicator comes with extensive tooltips for every function, making sure the user understand every part of it.
And as usual, use it together with other market analysis and perhaps a liquidity map of your choice.
Liquidation Levels with Liquidity Sweeps/Breakouts [AlgoAlpha]🌊📈 Dive into the depths of market liquidity with "Liquidation Levels with Liquidity Sweeps/Breakouts" - your ultimate tool for navigating the turbulent waters of trading! 🧹💹 Crafted by the wizards at AlgoAlpha, this Pine Script™ masterpiece illuminates the unseen liquidity levels and sweeps, guiding you through the financial seas with insight. 🚀🔍
Key Features:
🕒 Timeframe Flexibility: Customize your analysis with a TimeFrame Multiplier, allowing the indicator to operate on higher timeframes for broader market insight.
💥 Dynamic Volume Threshold: Set your sensitivity to breakouts with the High Volume Threshold, ensuring you catch significant market movements while avoiding fakeouts.
👀 Visibility Controls: Toggle the display of swept liquidity and highlight liquidity breakouts with customizable background colors for clear, actionable insights.
🎨 Custom Appearance: Personalize your chart with bullish, bearish, and breakout colors to match your trading style.
How to Use the Liquidity Levels with Liquidation Sweeps Indicator:
Maximize your trading efficiency with the Liquidity Levels with Liquidation Sweeps Indicator by following these simple steps! 🚀🌟
⚙️ Customize Settings: Access the indicator settings to personalize the TimeFrame Multiplier, High Volume Threshold, and Relative Volume Period. Tailor these settings to match your trading strategy and chart preferences.
👁️ Analyze Liquidity Levels: Monitor the chart for liquidity levels and sweeps. Bullish sweeps are marked with green labels, bearish sweeps with red, and breakouts highlighted by the chart background.
🔔 Set Alerts: Enable alert conditions for liquidity breakouts and sweeps within the indicator's settings. This feature allows you to receive real-time notifications, helping you to act promptly on trading opportunities.
How It Works:
The heart of this indicator lies in its ability to track and highlight liquidity levels derived from swing pivots, and sweeps across multiple timeframes. By calculating relative volume against a user-defined threshold, it identifies strong volume movements indicative of liquidity breakouts, this helps filter out fake-outs. When a liquidity level is breached but not completely mitigated, it's either marked as a bullish or bearish sweep, which come with the option to show an estimate of the number of liquidations during the sweep.
if peakform and peakprinted != 1
aR.push(line.new(bar_index-mult, h.get(1), bar_index+1, h.get(1), color = red))
aRv.push(h.get(1))
peakprinted := 1
if valleyform and valleyprinted != 1
aS.push(line.new(bar_index-mult, l.get(1), bar_index+1, l.get(1), color = green))
aSv.push(l.get(1))
valleyprinted := 1
Deep Volume [ChartPrime]Deep Volume is an indicator designed to give you high fidelity volume information. It does this by utilizing real time data provided by Tradingview to generate a wide range of metrics. We have included a convenient column chart to visualize the polarity of the volume, and a table to see the real time data. This works by utilizing pine script's varip feature to get information within candles. This is convenient as it allows users to get lower time frame information without the use of ltf functions. The result is seconds level data with out the need to be on a lower time frame chart. As a result, as you increase the time frame of the chart the updates will become slower. This is because Tradingview doesn't update the chart information as frequently on higher time frames as there isn't as much of a need.
This indicator works on real time data so to compensate for this we generate a simulated history based on candle structure. This helps in estimating the state of the moving average before the real time data starts. As a result the estimated history isn't as accurate and should be treated as such. That being said it is nice to have an estimation when the indicator is first loaded onto the chart.
Finally we have included a cumulative volume comparison that shows you how much volume there is compared to the average cumulative volume for the day. This metric utilizes a gradient to help you interpret the information at a glance. Low daily volume is represented with grays by default, while normal volume and greater is represented with a green color by default.
The table is partitioned into two sections; tick data, and average data. On the left you will see color coded information based on the direction of the move. On the left, the information is color coded based on the average movement direction. You can control how much information is displayed in the table within the indicators settings. This is defaulted to 20 but it can be as long or short as you like. Every new candle open the far left of the table you will see a 🗘 symbol and at the start of a new session you will see a 🗓 symbol.
The included metrics are as follows:
Time: This displays the time of the real time data update.
Time Delta: This displays the elapsed time between updates.
Order Size: This is the volume times the price change between updates.
Volume: This is the volume change for the update.
Price Change: This is the change in price since the last update.
Price: This is the price of the asset at the time of the update.
Speed of Tape: This is the average time delta. Use this to see how quickly the market is moving.
Average Order Size: This is the average order size.
Average Volume: This is the average volume
Volume Ratio: This the the ratio of bullish to bearish volume as expressed by a percent. 100% is all bullish within the window and -100% is all bearish within the window.
Average Price Change: This is the average price change within the window.
Sensitivity: This is a volatility metric designed to show you the price change per 1 volume unit.
Relative Sensitivity: This is a volatility metric designed to show you the average price change per average volume.
Enjoy
Multi-Day Rolling VWAP [Intraday]Ideas from Brian Shannon's book "Anchored VWAP"
The Multi-Day Rolling VWAP indicator for intraday timeframes allows you to track the Volume Weighted Average Price (VWAP) over multiple days, specifically for 1-day, 2-day, 3-day, 4-day, and 5-day periods. This indicator beyond the standard daily VWAP provides a broader perspective on price trends and market sentiment.
Features:
- Multi-day VWAPs: Analyze VWAP over several days to observe longer-term price movements.
- Customizable display: Choose which VWAP periods to display on the chart
- Colorize: Choose different colors for each VWAP to easily distinguish between periods.
- Adjustable settings: Change the line thickness and select the price source for VWAP calculations.
- Works with Replay Mode
- Works in any intraday timeframe on any asset with volume and price
Benefits:
- Trend identification: Compare current prices with multi-day rolling VWAPs to spot trends.
- Spot reversals: Look for potential price reversals or support when prices cross VWAP lines.
Up Down Volume Ratio by 3iauThis script considers the total volume within a user specified time frame, and whether price closed higher or lower at the end of each period within that time frame.
EXAMPLE:
* If the time period of interest is 50-periods, the script considers the volume within each of those 50 periods beginning with the most recent closed period.
* SumUpVol = the sum of all volume occurring within only those periods where price closed higher than that of the previous period.
* SumDnVol = the sum of all volume occurring within only those periods where price closed lower than that of the previous period.
* Difference = the difference between SumUpVol and SumDnVol = SumUpVol - SumDnVol
* Total = the sum of SumUpVol and SumDnVol = SumUpVol + SumDnVol
* The plot will present the change in Difference divided by Total = Difference/Total = (SumUpVol - SumDnVol)/(SumUpVol + SumDnVol) occurring within those 50 periods. What will be plotted is the moving average of this value. The user can specify the moving average type and the number of period for which the average is calculated.
* The plot needs to be fitted into a range, for example, +/- 50 (default) or +/-100, by multiplying the result of Difference/Total by a user specified constant. The constant will contain the majority (not all) of the values within +/- the specified value.
* Range = the user specified constant. If Range = 50, the majority of values plotted will be fall within the range +/- 50.
* Therefore, what is plotted is the moving average of Range * Difference / Total.
* When the value = 0, accumulation = distribution over the user specified 50-periods time frame.
* When the value is positive, accumulation > distribution over the user specified 50-periods time frame.
* When the value is negative, distribution > accumulation over the user specified 50-periods time frame.
This plot allows one to see possible accumulation and distribution occurring within a particular stock. The slope of this plot must be considered, and not any single value. The selected constant (“Range” in the example above) does not have an effect on the slope of the plot.
Three values may be plotted at once, for comparison of accumulation or distribution occurring over different time frames. For example, compare Difference / Total calculated over a 50-periods timeframe with 10-periods timeframe, both time frames beginning with the most recent closed period.
In addition to the above, J. Welles Wilder’s Relative Strength Index (RSI) can be plotted over the Difference / Total.
NOTE: this script is not the same as the more commonly used Up/Down Volume Ratio defined as SumUpVol / SumDnVol over a 50-periods time frame, where SumUpVol = the sum of all volume occurring within only those periods where price closed higher than that of the previous period, and SumDnVol = the sum of all volume occurring within only those periods where price closed lower than that of the previous period.
Compare...
Up Down Volume Ratio = SumUpVol / SumDnVol
Up Down Volume Ratio by 3iau = the moving average of Range * (SumUpVol - SumDnVol) / (SumUpVol + SumDnVol)
Kzx | RSI + Div + MACDComponents Description:
Relative Strength Index (RSI):
Purpose: Measures the magnitude of recent price changes to evaluate overbought or oversold conditions in the price of a stock or other asset.
Implementation: The script allows users to set the length of the RSI calculation and defines overbought and oversold levels, which can be visually represented on the chart. Additional features include options to fill and/or color the background of the chart when overbought or oversold levels are reached.
Divergence (Div):
Purpose: Identifies instances where the price of an asset is moving in the opposite direction of a momentum indicator, such as the RSI in this script. Divergences can signal potential trend reversals.
Implementation: The script provides options for users to define the conditions under which divergences are identified, including the source of price tops/bottoms, detection limits, and the maximum lookback period for divergence analysis. It visually highlights these divergences on the chart.
Moving Average Convergence Divergence (MACD):
Purpose: Tracks the relationship between two moving averages of a security's price. The MACD is used to identify trend direction, momentum, and potential reversal points through crossovers.
Implementation: The script calculates the MACD line and its signal line. It plots buy or sell markers based on crossovers between these two lines, indicating potential entry or exit points.
Script Category:
Category: Technical Analysis / Indicators and Strategies
Subcategory: Oscillators (for RSI and MACD) and Trend Analysis (for Divergence)
Usage:
The script is designed for traders and analysts who rely on technical analysis to make informed decisions in the financial markets. By integrating RSI, divergence detection, and MACD analysis into a single script, users can gain a more nuanced understanding of market conditions, potentially improving their trading strategies.
Customization and Visualization:
Users can customize various parameters, including lengths for RSI and MACD, overbought/oversold levels, divergence detection criteria, and visual aspects like colors and marker sizes.
The script provides visual cues directly on the price chart, making it easy to spot potential buy/sell signals, overbought/oversold conditions, and divergences without the need to switch between different indicators.
BigBeluga - Smart Money ConceptsSmart Money Concepts (SMC) is a comprehensive toolkit built around the around the principles of "smart money" behavior, which refers to the actions and strategies of institutional investors.
SMC transcends traditional technical analysis by delving deeper into this framework. This approach allows users to decipher the actions of these influential players, anticipate their potential impact on market dynamics, and gain insights beyond just price movements.
This all-in-one toolkit provide the user with a unique experience by automating most of the basic and advanced concepts on the chart, saving them time and improving their trading ideas.
🔹Real-time market structure analysis simplifies complex trends by pinpointing key support, resistance, and breakout levels.
🔹Advanced order block analysis leverages detailed volume data to pinpoint high-demand zones, revealing internal market sentiment and predicting potential reversals. This analysis utilizes bid/ask zones to provide supply/demand insights, empowering informed trading decisions.
🔹Imbalance Concepts (FVG and Breakers) allows traders to identify potential market weaknesses and areas where price might be attracted to fill the gap, creating opportunities for entry and exit
🔹Swing failure patterns help traders identify potential entry points and rejection zones based on price swings
🔹Liquidity Concepts, our advanced liquidity algorithm, pinpoints high-impact events, allowing you to predict market shifts, strong price reactions, and potential stop-loss hunting zones. This gives traders an edger to make informed trading decisions based on multi-timeframe liquidity dynamics
🔶 FEATURES
The indicator has quite a lot of features that are provided below:
Swing market structure
Internal market structure
Mapping structure
Discount/Premium zone
Adjustable market structure
Strong/Weak H&L
Sweep
Volumetric Order block / Breakers
Fair Value Gaps / Breakers (multi-timeframe)
Swing Failure Patterns (multi-timeframe)
Deviation area
Equal H&L
Liquidity Prints
Buyside & Sellside
Sweep Area
Highs and Lows (multi-timeframe)
🔶 BASIC DEMONSTRATION
The preceding image illustrates the market structure functionality within the Smart Money Concepts indicator.
Solid lines: These represent the core indicator's internal structure, forming the foundation for most other components. They visually depict the overall market direction and identify major reversal points marked by significant price movements (denoted as 'x').
Dotted lines: These represent an alternative internal structure with the potential to drive more rapid market shifts. This is particularly relevant when a significant gap exists in the established swing structure, specifically between the Break of Structure (BOS) and the most recent Change of High/Low (CHoCH). Identifying these formations can offer opportunities for quicker entries and potential short-term reversals.
Sweeps (x): These signify potential turning points in the market where liquidity is removed from the structure. This suggests a possible trend reversal and presents crucial entry opportunities. Sweeps are identified within both swing and internal structures, providing valuable insights for informed trading decisions.
🔶 USAGE & EXAMPLES
The image above showcases a detailed example of several features from our toolkit that can be used in conjunction for a comprehensive analysis.
Price rejecting from the bullish order block (POC), while printing inside a bullish SFP and internal structure turning bullish (Internal CHoCH).
The image further demonstrates how two bearish order blocks could potentially act as resistance zones when prices approach those levels. These areas might also offer attractive locations to place take-profit orders.
The price has reached our first take-profit level, but is exhibiting some signs of weakness, suggesting a potential pullback which could put the trade at higher risk.
On the other hand, the price action currently exhibits strong bullish sentiment, suggesting favorable entry points and a potential upward trend.
The price has now fully reached our take-profit zone and is also exhibiting bearish confluence, indicating a potential price reversal or trend shift.
🔶 USING CONFLUENCE
The core principle behind the success of this toolkit lies in identifying "confluence." This refers to the convergence of multiple trading indicators all signaling the same information at a specific point or area. By seeking such alignment, traders can significantly enhance the likelihood of successful trades.
In the image above we can see a few examples of the indicator used in confluence with other metrics included in the toolkit.
Liquidity Prints within order blocks
SFP close to the POC
Sweep in liquidity close to a fair value gaps
These are just a few examples of what applying confluence can look like.
🔶 SETTINGS
Window: limit calculation period
Swing: limit drawing function
Internal: a period of the beginning of the internal structure
Mapping structure: show structural points
Algorithmic Logic: (Extreme-Adjusted) Use max high/low or pivot point calculation
Algorithmic loopback: pivot point look back
Premium / Discount: Lookback period of the pivot point calculation
Show Last: Amount of Order block to display
Hide Overlap: hide overlapping order blocks
Construction: Size of the order blocks
Fair value gaps: Choose between normal FVG or Breaker FVG
Mitigation: (close - wick- avg) point to mitigate the order block/imbalance
SFP lookback: find a higher / lower point to improve accuracy
Threshold: remove less relevant SFP
Equal h&L: (short-mid-long term) display longer term
Any Alert(): Trigger alerts based on the selected inputs
Cumulative Volume Delta (CVD)█ OVERVIEW
Cumulative Volume Delta (CVD) is a volume-based trading indicator that provides a visual representation of market buying and selling pressure by calculating the difference in traded volumes between the two sides. It uses intrabar information to obtain more precise volume delta information than methods using only the chart's timeframe.
Volume delta is the net difference between Buy Volume and Sell Volume. Positive volume delta indicates that buy volume is more than sell volume, and opposite. So Cumulative Volume Delta (CVD) is a running total/cumulation of volume delta values, where positive VD gets added to the sum and negative VD gets subtracted from the sum.
I found simple and fast solution how to calculate CVD, so made plain and concise code, here is CVD function :
cvd(_c, _o, _v) =>
var tcvd = 0.0, delta = 0.0
posV = 0.0, negV = 0.0
totUV = 0.0, totDV = 0.0
switch
_c > _o => posV += _v
_c < _o => negV -= _v
_c > nz(_c ) => posV += _v
_c < nz(_c ) => negV -= _v
nz(posV ) > 0 => posV += _v
nz(negV ) < 0 => negV -= _v
totUV += posV
totDV += negV
delta := totUV + totDV
cvd = tcvd + delta
tcvd += delta
cvd
where _c, _o, _v are close, open and volume of intrabar much lower timeframe.
Indicator uses intrabar information to obtain more precise volume delta information than methods using only the chart's timeframe.
Intrabar precision calculation depends on the chart's timeframe:
CVD is good to use together with open interest, volume and price change.
For example if CVD is rising and price makes good move up in short period and volume is rising and open interest makes good move up in short period and before was flat market it is show big chance to pump.
Weighted Average Volume Depth [QuantraSystems]Weighted Average Volume Depth
Introduction
The Weighted Average Volume Depth (𝓦𝓐𝓥𝓓) indicator is calibrated to provide extensive insights, calculated using volumetric price action and volume depth, and provides dynamic adjustments based upon historical volatility.
This indicator is a valuable asset for traders and investors, aiming to capture trends, measure dynamic volatility, and provide market reversion analysis in a systematic way.
Legend
Volumetric Top Cap: Plotted at y = 0, this line represents the probabilistic maximum value, or ‘cap’ for the signal line. It is colored using a binary color scheme, and indicates the dominant trend direction - green for an uptrend and purple for a downtrend.
Base Line: Calculated using a volume-weighted volatility measurement, this line is used as the benchmark to calculate momentum in the 𝓦𝓐𝓥𝓓 indicator.
Signal Line: The signal line represents the volume and volatility weighted measurements, and oscillates between the Base Line and Top Cap. Its position between these levels provides the depth of insights available in this script.
When the signal line is remaining in close proximity to the base line, this is indicative of a low volatility market environment. These periods are also reflected as muted bar coloring when the ‘Trend Intensity’ setting is enabled.
Conversely, when the signal line approaches, or even breaks above the Top Cap, this is characteristic of an unsustainable trending action - and probabilistically speaking, a reversion or consolation is likely to occur at these levels.
Highlighting: When this setting is enabled, background coloring is applied when the Signal Line breaks above the Top Cap. This highlights green as an oversold zone, and purple as an overbought zone.
Reversal Signals: When price begins to reverse from a zone of overextension, a signal is plotted when this reversion occurs from a high probability zone.
Circle - Shows a possible bullish reversal.
Cross - Shows a possible bearish reversal.
Case Study
In the above image, we showcase three distinct trades in short succession, showcasing the 𝓦𝓐𝓥𝓓’s speed and accuracy under the right conditions.
The first long trade was initiated upon receiving a bullish reversal signal. The trade was then closed after the price experienced a sharp upwards movement - and an overbought signal was indicated by the purple shading.
The second, short trade was entered on the next bar, after a bearish reversal signal was printed by the indicator (a white cross). Similarly, this trade was closed upon the oversold signal.
Once again, a reversal signal was indicated by the 𝓦𝓐𝓥𝓓 indicator. This time a bullish signal (a white circle), and hence a long position was opened. However, this trade was held until a negative trend confirmation (signaled by the Top Cap’s shift in color). This makes apparent the indicator’s flexible nature, and showcases the multiple signaling types available for traders to use.
Recommended Settings
The optimal settings for the 𝓦𝓐𝓥𝓓 indicator will vary upon the chosen asset’s average level volatility, as well as the timeframe it is applied to.
Due to increased volatility levels on lower timeframes, it is recommended to increase the 'Top Cap Multiplier' to take into account the increased frequency of false signals found in these trading environments. The same can be said when used on highly volatile assets - a trader will likely benefit from using a higher 'Top Cap Multiplier.'
On more price-stable assets, as well as any asset on higher timeframes, there is merit to tightening the length of the 'Top Cap Multiplier,' due to the slower nature of price action.
Methodology
The 𝓦𝓐𝓥𝓓 starts with calculating the volume weighted average price and the volume weighted variance - which is the expectation of the squared deviation of a variable from its mean, giving insights into the distribution of trading volume.
Using the volume weighted variance, a standard deviation value is calculated based on user input. This value acts as the ‘Volumetric Top Cap’ - seen in the 𝓦𝓐𝓥𝓓 indicator window as the zero line.
The signal line is calculated as the difference between the current price and the theoretical upper or lower VWAP deviation bands. This line acts as the trigger for identifying prevailing trends and high probability reversal points.
The base line serves as a reference point for historical momentum. It is calculated using an exponential moving average of the lowest signal line values over a defined lookback period. This baseline helps in assessing whether the current momentum is high or low relative to historical norms.
Notes
Bar coloring can be turned off - especially useful when stacking multiple indicators as recommended, or set to 'Trend Intensity,' or 'Binary Trend' (which reflects the top cap coloring).
It is always recommended to never rely on a single indicator - and instead build and test multiple strategies utilizing more than one indicator as confirmation.
Footprint liteFootprint Lite enables you to monitor volume distribution for the current ticker, offering resolutions as 1 second, segmented by specified price levels with visual representations. Additionally, you have the flexibility to customize the displayed Imbalance price level and the number of consecutive Imbalance level lines.
Here are the input options:
Group Display:
This section allows you to adjust how Footprints are displayed.
"Count show bars": Directly adjusts the display to show the last 'n' bars.
"Display all available bars": Shows all available bars.
Group Row size:
Adjusts the parameters for generating Footprints based on price step size.
"Ticks Per Row": Directly sets the price step, calculated by multiplying the entered value by syminfo.mintick.
"Auto": Enables automatic mode for selecting the "Ticks Per Row" value.
"Max row": Relevant for auto mode, it sets the acceptable number of rows within a bar. The automatic "Ticks Per Row" calculation is based on the first available bar and applied to subsequent bars.
Group Imbalance:
Customizes the display of price levels represented by Imbalance and emphasizes consecutive lines.
"Imbalance Percent": A coefficient expressed as a percentage to determine the Imbalance of price levels, comparing the buy price diagonally to the previous sell price.
"Stacked levels": Sets the minimum number of consecutive Imbalance levels required to draw extended lines.
Alerts:
You can set alerts for various events:
"New imbalance line sell": Alerts on the appearance of a new imbalance line for selling.
"New imbalance line buy": Alerts on the appearance of a new imbalance line for buying.
"Stop past imbalance line sell": Alerts when the previous imbalance line for selling stops, indicating it has reached the range from low to high of the current bar.
"Stop past imbalance line buy": Alerts when the previous imbalance line for buying stops, indicating it is within the range from low to high of the current bar.
"New imbalance buy": Alerts on the appearance of a new or change in the current imbalance level for buying.
"New imbalance sell": Alerts on the appearance of a new or change in the current imbalance level for selling.
Forex Multi-Factor IndicatorMoving Averages (MA):
Two moving averages are plotted on the chart: a fast MA (blue line) and a slow MA (red line).
The fast MA is calculated using a shorter period (10 periods by default), while the slow MA is calculated using a longer period (30 periods by default).
Moving averages help identify trends by smoothing out price fluctuations. When the fast MA crosses above the slow MA, it suggests a bullish trend, and when the fast MA crosses below the slow MA, it suggests a bearish trend.
Relative Strength Index (RSI):
The RSI indicator (orange line) is plotted on a separate axis.
RSI measures the speed and change of price movements and oscillates between 0 and 100.
RSI values above 70 are considered overbought, indicating a potential reversal to the downside, while RSI values below 30 are considered oversold, indicating a potential reversal to the upside.
Volume Moving Average (Volume MA):
The volume moving average (purple line) is plotted on the same axis as the volume.
The volume moving average is calculated over a specified period (20 periods by default).
Volume analysis provides insights into the strength of price movements. When the volume increases along with price movements, it suggests strong conviction from traders.
Buy and Sell Signals:
Buy signals (green triangle) are generated when all of the following conditions are met:
The fast MA crosses above the slow MA (indicating a bullish trend).
The RSI is below the oversold level (indicating potential upward momentum).
The current price is above the fast MA, and the volume is higher than the volume MA (indicating positive volume trend).
Sell signals (red triangle) are generated when all of the following conditions are met:
The fast MA crosses below the slow MA (indicating a bearish trend).
The RSI is above the overbought level (indicating potential downward momentum).
The current price is below the fast MA, and the volume is lower than the volume MA (indicating negative volume trend).
Overall, this multi-factor indicator combines moving averages, RSI, and volume analysis to identify potential buying and selling opportunities in the Forex market. Traders can use the signals generated by this indicator as part of their trading strategy, but it's important to consider other factors such as risk management and market conditions before making trading decisions
Rolling Strategic AVWAPThe Rolling Strategic AVWAP gives you the ability to have the standard AVWAP indicators applied across all charts in all timeframes. There is no manual intervention necessary to keep all the standard VWAPs up to date. This indicator is written so that all weekends and trading holidays are taken into account so you never have any gaps or days where the indicator isn't working.
Standard rolling AVWAP indicators:
Daily
2-day
3-day
Week-to-Date
Month-to-Date
Year-to-Date
Additionally I have supplied several custom labeled AVWAP indicators that the user can adjust the date themselves
Custom Fixed AVWAP indicators:
Prior Week-to-Date
Prior Month-to-Date
Prior Year-to-Date
Fed rate decision
Inflation report
GDP report
Jobs report
3 more labeled Custom1-3
These custom locations will allow the user to anchor the VWAP to meaningful dates and times in the market. Often there are large moves due to global macro events that can give the trader an edge by referencing the VWAP to the date and time.
Labels and Display
There are options to turn on and off any of the AVWAPs, as well as turning on and off the display labels below the candles.
