Volume Based Support & ResistanceThis script uses the Volume of each candle to find support and resistances on the whole visible chart. There is a single easy to use setting that is the Distance between major S/R lines which is 10% for the default and better for Daily timeframe. If you set a lower number, for example 5% then there will be more lines on the chart which is better for lower time frames and higher number like 20% maybe better for weekly timeframes.
It is developed based on using for Bitcoin daily timeframe, but it can be used for any symbol on any timeframe with the proper settings.
The limitation is the number of visible candles which the data and S/R lines are calculated based on them (if the previous data was within the same price range and if not, there is no issue).
Also, this code is a good learning example of using arrays and lines together in the trading view's pine script.
Volume
Stock Data Table█ OVERVIEW
This is a table that shows some information about stocks. It is divided into four sections:
1) Correlation
2) Shares
3) Daily Data
4) Extended Session Data
The table is completely modular, which means you can add or remove each element from the settings menu, and it will automatically rearrange its spaces.
It is also highly customizable, to the extent that you can change almost any color, remove or change titles, invert section rows, and much more.
1) Correlation
The script checks if the stock is listed on NASDAQ, and if so, uses the QQQ (Nasdaq-100 ETF) as the reference index in the first cell; otherwise, it uses the SPY (S&P 500 ETF). The length of the correlation is shown in the second cell. The table then displays the correlation between the reference index and the other index, and the correlation between the reference index and the stock.
To make it easier to interpret the correlation values, each row's last cell is color-coded with a gradient to highlight the type of correlation, and the direction of the gradient can be customized.
The correlation coefficient is a statistical measure that quantifies the strength and direction of the relationship between two variables, indicating how changes in one variable are associated with changes in the other variable, so it can be used to identify patterns and trends.
If you are interested in correlation, I suggest taking a look at my dedicated indicator:
2) Shares
This feature provides you with quick access to key information about shares and market capitalization.
On one row, you can view the total shares outstanding and the market capitalization for the fiscal year or the quarterly year. The total shares outstanding represents the total number of shares of the stock that have been issued and are currently outstanding, regardless of whether they are held by insiders or public investors. The market capitalization is a widely used measure of the company's value as determined by the stock market, calculated by multiplying its current stock price with the total number of outstanding shares.
The other row shows the float, which is the number of shares of a company that are available for public trading, and the corresponding free-float market cap, calculated by multiplying the company's current stock price with the float. Because Pine Script does not allow retrieving information about quarterly year float, you can view the float and the free-float market cap of the fiscal year only. The data can be displayed at all times or only when the difference between the total shares outstanding and the float is significant enough to result in a difference between the market cap and free-float market cap.
The classification for market cap and free-float market cap is set in this way:
Mega Cap: $200 billion or more
Large Cap: between $10 billion and $200 billion
Mid Cap: between $2 billion and $10 billion
Small Cap: between $300 million and $2 billion
Micro Cap: less than $300 million
Penny Stocks: less than $5 (customizable)
Comparing the free-float market cap to the market cap can provide insights into the liquidity of a stock. In fact, if the float is relatively small compared to the total shares outstanding, it may be more difficult to find buyers or sellers, which could lead to increased volatility. On the other hand, a larger float indicates that the stock is more liquid and may be easier to trade, potentially resulting in lower volatility. However, market conditions can change quickly and significantly, especially for intraday traders, and the free-float can also change as insiders or other large shareholders buy or sell shares. Therefore, comparing the data of the fiscal year with that of the quarterly year may not provide the most up-to-date and accurate information for making trading decisions. This limitation can be mitigated by combining those data with other indicators and tools, such as technical analysis or news events, to gain a better understand of the stock's performance and potential trading opportunities.
3) Daily Data
This section is available on daily charts only due to the lack of accuracy of real-time daily data on other time frames. Here, you can view the Average Daily Volume (ADV) over a preferred time range (20 days by default), and the Daily Change, which represents the percentage difference between the closing price on two consecutive trading days.
ADV is useful in measuring the stock's volatility, as it provides an indication of how much trading activity there is in it. Generally speaking, stocks with higher trading volume tend to be less volatile than stocks with lower trading volume. High trading volume means there are more buyers and sellers actively trading the stock, which makes it easier for investors to buy and sell shares at fair prices. This increased liquidity can help to stabilize the stock price, reducing the potential for large swings in either direction. On the other hand, stocks with lower trading volume may experience greater volatility, as there are fewer buyers and sellers actively trading the stock. This can result in larger price swings, as it may be more difficult for investors to buy or sell shares at fair prices.
The daily percentage change can provide an indication of the stock's volatility, with larger values indicating greater volatility and risk. It can also be compared to that of a benchmark such an index or other stocks in the same sector, helping to determine whether the stock is outperforming or underperforming relative to them.
4) Extended Session Data
The fourth section is available on intraday charts only. This section provides two pieces of information: the Extended Session Change and the Pre-Market Volume.
The Extended Session Change indicates the percentage difference between the previous day's closing price and the latest price in the extended session. This gives you the extent and the direction of the price gap that occurred during extended trading hours.
The Pre-Market Volume shows the sum of all shares traded during the pre-market session. This can be helpful in understanding how much interest the stock gained before the market opened.
By default, the two rows will be visible at all times. They will stop updating after the end of their respective time range, and resume updating when it starts again. However, you can choose to automatically hide them outside of their time ranges.
Both the extended session and pre-market time ranges can be customized. Please note that if you select time ranges outside of the regular market session (as set by default), you must enable the extended session to view the corresponding rows.
█ GENERAL NOTES
• Total Shares Outstanding, Float, Average Daily Volume and Pre-Market Volume cells use a customizable color system based on two thresholds, to help you quickly identify whether the value is "too low/acceptable/too high" or "too low/not enough high/acceptable".
• If you cannot see certain data, that simply means it is not available.
Big Bars DetectorIf a big bar with high volume appears during an uptrend, this may indicate strong buying pressure i.e. the bar acts as support. vice versa, if a big bar with high volume appears during a downtrend i.e. the bar acts as resistance.
How to use ?
It is easy to use whenever the label appears on the candle's high (make sure the candle's color is Red for a bear candle, for example). If a Green bar has a label on its low, simply use the candle's low as support, and vice versa. If the candle's high has a label, consider using it as resistance.
The values display in labels on the top / bottom of the bar is the volume on that particular candle
Hope you like and help in your trading !!!
if any have question / suggestion comment below or just message me.
Thanks and Regards,
TradingTail
Intrabar Analyzer [Kioseff Trading]Hello!
This indicator (Intrabar Analyzer) presents intrabar data in various derivative forms.
On-Chart Features
Traditional price data down to 1 min.
Heikin-Ashi price data down to 1 min.
Kagi price data down to 1 min.
Point & Figure price data down to 1 min.
Renko price data down to 1 min.
Linebreak price data down to 1 min.
LinReg channel
SMA
EMA
ALMA
Echomorphic Average (A @kaigouthro special!)
HMA
RMA
WMA
VWMA
VWAP
SWMA
SAR
Supertrend
On-Chart Features
Price x Volume graph
Intrabar technical rating
Positive volume index
Negative volume index
Price volume trend
RSI
%k
ROC
MFI
MFC
OBV
CCI
BBW
CMO
COG
KCW
MOM
RANGE
%r
Let's look at the objects populated by the indicator!
The image above shows what data correlates to the populated graphs!
Let's dial in on the price x volume graph.
The image above provides an example/explanation of the price x volume graph. All data is sourced from a lower timeframe (configurable - default = 1 minute).
Colors are configurable; the plot characters are configurable.
The numbers above show an alternative view of the price x volume graph!
Price graph
The price graph can populate 6 variations of price data: traditional, heikin-ashi, renko, point & figure, line break, and kagi.
The subsequent images will show all available forms of price data, in addition to a randomly selected, on-chart technical indicator!
Kagi + LinReg
Traditional + EMA
Renko + SAR
Point & Figure + ALMA
Heikin-Ashi + Supertrend
Line Break + VWAP
You can display up to three indicators concomitantly - all calculated using intrabar data!
Lastly, the indicator displays the TradingView calculated technical rating for the intrabar.
The technical ratings are multiplied by x100 and oriented left & right of the price box. Left values are negative; right values are positive. The "0" value is not shown; therefore, if the technical rating isn't highlighted then the rating is "0".
The image above shows the technical rating system in action (:
That's it!
This was a fun project and I'm certainly willing to add more - let me know if there's anything you'd like included.
Additionally, a future feature involves compatibility with any custom indicator! Stay tuned; thank you for checking this out (:
Thank you to @kaigouthro, TradingView and @PineCoders for providing some cool libraries to play with!
Weekday Change & Volume Average TableHaving a reference point for comparing with current data has always been an important task in market analysis. This script tried to give a better understanding based on weekdays.
This script shows that in the current ticker, what is the average movement of the price (High-Low) and volume for each weekday. Depending on the market and the exchange it should be different.
The Interesting point is that, for example in BINANCE:BTCUSDT , on Saturday and Sunday, volume is about 30% less and the price movement is about 20% less.
The script can be used on any timeframe and any symbol, just remember that the data shown is based on the candles on the chart, so it is different also based on your tradingview's account since Historical bars available for Basic is 5K, Pro & Pro+ is 10K and Premium is 20K; And in lower timeframes it is calculating more recent data.
Swing Levels and Liquidity - By LeviathanThis script will plot pivot points (swing highs and lows) in the form of lines, boxes or labels to help you identify market structure, “liquidity” areas, swing failure patterns, etc. You are also able to see the volume traded at each pivot point, which will help you compare their significance.
Bars Left-Right
A pivot high (swing high) is a bar in a series of bars that has a higher value than the bars around it and a pivot low (swing low) is a bar in a series of bars that has a lower value than the bars surrounding it. The Bars Left and Bars Right parameters are used to define the number of bars on the left and right sides of a pivot point that the function should consider when identifying pivot highs and lows in a time series. For example, if Bars Left is set to 5 and Bars Right is set to 6, the function will look for a pivot point by comparing the value of the current bar with the values of the 5 bars to its left and the 6 bars to its right. If the value of the current bar is higher than all of these bars, it is considered a pivot high point. These parameter can be used to adjust the sensitivity of the script (lowering the Bars Left and Bars Right parameters will give you more swing points and increasing the Bars Left and Bars Right parameters will give you fewer swing points).
”Show Boxes” - This will draw a box above the swing high and a box below the swing low to help you visualise a large area of interest around swing points. Additional box types and the width of the box can be adjusted in Appearance settings below.
”Show Lines” - This will draw a horizontal line at the level of each swing high and swing low.
”Show Labels” - This will plot a circle at the high point of each swing high and at the low point of each swing low.
”Show Volume” - This will display the amount of volume traded in a given swing point candle. It can help you identify the significance of a given swing point by comparing it to the volumes of other swing points.
”Extend Until Filled” - This will extend the swing point levels until they are mitigated by the price. Turning it off will continue plotting the levels just a few more bars after a swing point occurs.
”Appearance” - You can show/hide swing points, choose the colors of labels, lines and boxes, choose the size and positioning of the text, choose line and box appearance (adjust the Box Width when switching between timeframes!) and more.
More updates coming soon (MTF, more data…)
RS: FootprintThis is live only Footprint indicator.
Warning: TV does not provide tick by tick data and updates come in snapshots . Based on this, this indicator can never show precisely what is happening on the bid/ask. What it shows is only an approximation that works well enough if the tape is not too fast.
Use it at your own risk, with the warning above in mind!
Footprint can be used in two modes:
Delta - with bid/ask delta numbers on the left, at the same price level and the total volume numbers on the right
Bid vs Ask - with the bid on the left and the ask on the right; the coloring is based on the diagonal difference
Zoom in to fit the candles; optionally hide default candles.
Volume Trend AnalysisThe VTA indicator is a trend analysis indicator based on trading volume and candlestick charts, used to determine the states of bullish strength, bearish strength, and market balance. When the bullish volume gradually increases while the bearish volume gradually decreases or remains steady, the market is in a state of bullish strength; when the bearish volume gradually increases while the bullish volume gradually decreases or remains steady, the market is in a state of bearish strength; when both the bullish and bearish volumes remain steady, the market is in a state of market balance.
The VTA indicator can help traders better determine market trends, select appropriate entry and exit points.
Waddah Attar Explosion with TDI First of all, a big shoutout to @shayankm, @LazyBear, @Bromley, @Goldminds and @LuxAlgo, the ones that made this script possible.
This is a version of Waddah Attar Explosion with Traders Dynamic Index.
WAE provides volume and volatility information. Also, WAE calculation was changed to a full-on MACD, to provide the momentum: the idea is to "assess" which MACD bars have significant momentum (i.e. crossover the Explosion Line)
TDI provides momentum, divergences as well as overbought and oversold areas. There is also a RSI on a different timeframe, for convergence.
Almost everything is editable:
- All moving averages are customizable, including the TRAMA, from @LuxAlgo
Waddah Attar Explosion_
- Three different crossing signals: histogram crossing contracting Explosion Line, expanding Explosion Line and ascending Explosion Line while both Bolling Bands are expanding; Explosion Line shows different color when expanding.
- Explosion line signals: Below DeadZone line and Exhaustion (highest value in a given lookback period). You can set a predefined EPL slope to filter out some noise.
- Deadzone signal : Deadzone squeeze ( lowst value in a given lookback period)
TDI:
- Overbought an Oversold signals. The OB and OS shapes have two colors, in order to display extreme signals on current timeframe or extreme signals on current and different time frame.
- Visual display of RSI outside the Bollinger Bands, and crossing of RSI Moving Average crossing of zero line.
I believe this combination is great for so many reasons!
Like the idea of TTM Squeeze? You can tune the Deadzone and Explosion lines to look for a volatility breakout
Like trading divergences or want to filter out extreme areas? The RSI is great for that
You like the using the MACD strategy but don't like the amount of false signals given? this WAE version filters some of them out.
If you are a Bollinger bands fan, you can customize both indicators to trade breakouts and/or mean reversion strategies, and filter out exhaustion of the bands expansion
This is my first publication, so give it a go and provide feedback if possible.
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):
VWAP filtered MACD Bars with positive MACD histogram value and closing above VWAP are colored, long positions should be taken in areas made of those bars.
Similarly, bars with negative MACD histogram value and closing below VWAP are also colored, short positions should be taken there.
This indicator by default should be a part of your trend following trading system.
In the setting you can change colors
Above grow: positive and rising MACD histogram value
Above fall: positive and falling MACD histogram value
Below fall: negative and falling MACD histogram value
Below grow: negative and rising MACD histogram value
Gaps + Imbalances + Wicks (MTF) - By LeviathanThis script will identify and draw price gaps, wicks and imbalances with customizable fill conditions, multi-timeframe function, zone size filtering, volume comparison, lookback filtering, as well as highly customizable appearance and settings.
I’ve made this indicator to combine the three similar but different elements that occur in price movements and serve as significant zones of interest or way of PA interpretation in various different strategies.
Imbalances (or Fair Value Gap/FVG/Inefficiency/whatever)
- The Imbalance “pattern” consists of 3 candles (1- candle before the sharp move, 2 - sharp move candle and 3- candle after the sharp move). When price makes a move downwards, the imbalance zone is defined as the area between the low of 1 and the high of 3 When price makes a move upwards, the imbalance zone is defined as the area between the high of 1 and the low of 3.
Gaps
A price gap is an area on a chart where no trading activity has taken place. A gap up means that the low of the current candle is higher than the high of the previous candle and a gap down means that the high of the current candle is lower than the low of the previous candle.
Wicks (or shadows/tails/whatever)
Wicks are used to indicate where the price has fluctuated relative to the opening and closing price of the candle. An upper wick is the zone between candle high and candle close/open (whichever is higher) and a lower wick is the zone between candle’s low and candle’s close/open (whichever is lower).
Settings Overview
“Zone Type” - This input lets you decide which zones should the script plot and on which timeframe. You should always pick a timeframe higher than your chat’s.
“Middle Line, Top Line, Bottom Line” - Show or hide the Middle Line (horizontal level in the middle of each zone), Show or hide Top Line (horizontal level at the top of the zone), Show or hide Bottom Line (horizontal level at the bottom of the zone)
“UP/DOWN Zones" - This input lets you show/hide UP Zones or DOWN Zones an pick their color, border color and label color.
”Fill Condition” - If turned ON, the zones will end drawing when your prefered Fill Condition is met (Full Filll = price mitigates the whole zone, Half Fill = zone is at least halfway mitigated and Touch = zone is touched by price). If turned OFF, the zones will only be plotted for the amount of bars defined it “Zone Length”.
”Lookback (D)” - This input lets you limit the amount of zones plotted on the chart by choosing how many days back in time should the script go to find and plot zones. For example, input 1 will only show you the zones of the past day, input 7 will only show you the zones of the past week.
”Hide Filled Zones” - If turned ON, the zones that have been filled will be removed from the chart.
”Show Boxes” - Show or hide the boxes that represent the zones. This is useful for those who want the zones to be visualized by just lines.
“Filter Type” - this input lets you create a filter that will make the script only show zones that are larger than ATR or larger than a certain percentage. You can choose the ATR Length and the multiplier (higher multiplier → larger zone required), as well as the Percentage (%) and its multiplier (higher percentage → larger zone required). If you choose “None”, the zones of all sizes will be plotted.
”Zone Labels” - this part of the settings lets you: show/hide labels, decide on the size of the labels and their positions, choose a custom name for each zone, choose the data that the labels present (Type of the zone/Timeframe/ Volume ).
”Other settings” - ‘Stop/Delete zone after X number of candles’ will force stop/delete the zone if it’s plotted for more than prefered number of bars. ‘Line Style’ lets you choose the style and the color of the lines, ‘Zone Length’ defines the length of the zone if Fill Condition is “None”.
More settings, modifications and improvements coming in future updates. This script is a bit old so I will clean up and optimize the code once I have more time.
Volume scaled Price + auto colour change light/dark mode🔶 OVERVIEW
🔹 This script shows price in a similar style as volume . To accomplish this we use the body of the candle ( close - open ), which is placed on a zero line.
This can be useful when comparing volume ~ price .
🔹 3 options are included to show additional lines, to make comparisons easier:
· Percentile nearest rank
· Bollinger Bands (BB)
· Simple Moving Average (SMA)
🔶 SETTINGS
🔹 Option : choose whether to show price (candles) or volume . Adding 2 versions of this indicator on the chart enables you to compare these 2 options:
🔹 Lines:
· (Percentile nearest rank (only the setting mult is used for this option).
· Bollinger Bands (BB) (only the setting % perc. nearest rank is used for this option).
· Simple Moving Average (SMA )
All 3 options will use length , this is the amount of bars used for calculations.
🔹 Show wick will show you... wicks :)
🔶 PERCENTILE NEAREST RANK
🔹 This script has 2 extra types of background color
dvP = volume > volume and z < z and z < prP_ and volume > prV
· In this case:
· volume is higher than previous volume ( volume > volume )
· volume is above 90th percentile rank ( volume > prV )
· price is lower than previous price ( z < z )
· price is below 10th percentile rank ( z < prP_ )
dvV = volume < volume and z > z and z > prP and volume < prV_
· The second type background color is reversed ( volume lower, price higher)
🔶 AUTOMATIC COLOUR CHANGE WHEN SWITCHING DARK/LIGHT MODE
🔹 chart.bg_color returns the color of the chart’s background from the "Chart settings/Appearance/Background" field, while chart.fg_color returns a color providing optimal contrast with chart.bg_color .
· Following technique gives you the possibility to pick your own colour for either dark/light time.
· We first retrieve separately the red, green and blue component of the measured chart.bg_color
r = color.r(chart.bg_color)
g = color.g(chart.bg_color)
b = color.b(chart.bg_color)
The following assumption states when all 3 colour components' values are below 80, we are in the dark mode:
isDark = r < 80 and g < 80 and b < 80
Now we can use isDark to automatically show your own dark/light mode colours (chosen at settings), dependable on the mode:
Cheers!
Volume Weighted Average Price (VWAP) with Extras [starlord_xrp]This script builds on the standard VWAP buy adding anchor selections for new High, new Low, and for extreme price moves (Percent Change) that can be significate anchor points for the VWAP. The Percent Change is based on "% Price Change" by OrganicPunch and uses a percentage threshold that can be set in the settings.
Relative Price Volume
Relative Price Volume is an indicator which shows anomalies between price and volume on a chart over a given period. The goal is to identify potential reversal and/consolidation areas for price as it relates to volume. It is a simple variation of a Volume at Price indicators. It can also be used to mark potential support and resistance lines on the chart as the areas it signals is where the price battles are waged.
Settings:
Period = length for which to calculate average candle body and average volume
Long Factor = relative size multiplier to determine if a candle is larger than average or if volume is higher than average
Short Factor = relative size multiplier to determine if a candle is smaller than average or if volume is lower than average
Anomaly Conditions
1. If a candle is larger than average and volume is lower than average, then this is an anomaly, and we should be on alert for a change in momentum.
2. if a candle is smaller than average and volume is higher than average, then this too is an anomaly and should put us on alert.
The indicator will draw a cross on the chart indicating the candle is that is flashing the warning that the run is done and a potential consolidation and/or reversal is pending. Used in conjunction with support and resistance levels this could signal a time to enter or exit a trade.
The default size factors considers a candle or volume:
1. Larger than average if it is 60% or more (.6) larger than average.
2. Smaller than average if it is 40% or less (.4) smaller than average.
Hope this helps! Happy trading!
Volume and vPOC InsightsThe vPOC or volume point of control shows where most of the volume was traded. This is important because this is where the institutions and market makers have opened their positions, and these are the ones that move the markets!
This indicator is designed to cut through the volume noise, and enable the hiding of lower volume data.
The main setting allows you to define a lookback, and obscure the candles whose volume is less than x % of the highest volume in this lookback.
Of the remaining candles, their vPOC will be displayed. There are extra settings to extend naked vPOCs, as well as the highs and lows of these high volume candles, plus an EMA based on the vPOC price levels.
I must credit quantifytools @quantifytools who allowed me to utilize his code, for finding vPOCs using lower timeframe candles - there are comments in the code also. It works perfectly so why reinvent the wheel?
VWOP: Volume Weighted & Oscillated PriceWhile playing around with the standard "ta.vwap" I wondered why there was no length input, so I did some research on what the underlying calculation actually is, and did my best to augment it so as to allow for a variable length based on an oscillator value.
Normal VWAP = (Number of Shares Bought x Typical Price) / Total Volume
In my VWOP Calculation, typical price is replaced by selected moving average type or "matype" and then multiplied by the volume.
Then a total value is calculated using math.sum with a length value that changes according to a selected oscillator's value. The total is then divided by
the sum of just volume using the same oscillating length value. Result is then passed through the selected"matype" once more to give the final result.
Indicator designed for use as a entry/exit indicator in conjunction with more traditional moving averages and/or signal filters. Useful for taking volume + an oscillator into account along with price, instead of just the price as with a simple moving average.
Two Days Auto Anchored VWAPEasier way to set anchors to today and last trading day's open.
All you need to do is to select today from the dates picker in Setting ➔ Inputs ➔ Anchor Today .
If last workday is holiday for the market, then overwrite by selecting Manually Set Prev Day
Next update: auto set today's anchor, so completely automatic
ADX Volume Trend
Thie indicator is a modified and upgraded version of the popular ADX tool.
ADX is used to determine the strength of a trend, and also to determine the direction in which the trend is likely to go.
With this script, I have added in the formula the usage of volume, leading to the following functionality.
The length is used to determine the period to calculate the trend strength and direction, and the average is used to then determine the oscillator and to confront the previous line.
The volume average determines how many volumes bars the indicator should use to determine if a volume bar is above or below average if volume mode is selected.
With the volume mode on, you'll get the DI+ and DI- lines, which are by default displayed as a histogram that calculates the difference between the two lines, called "Directional difference", are calculated using also the volume in the formula, multiplying the normal output by the volume multiplier. I suggest using this mode in high-volume markets.
The trend strength difference is the area calculated using the difference between the ADX line and his moving average and can be used to analyze divergences in the swing points.
It has a lot of improvements and new functionalities, like:
- Histogram to show the output at best
- Averages to compare the data
- The option to include the volume inside of the formula
- Other options and esthetic changes
This indicator is created to improve the usability of the popular ADX indicator, including the very important variable of the volumes, in fact, it's the best to use for the Volume Spread Analysis.
Volume Spread Analysis IchimokuThis version of the popular Ichimoku indicator is modified to let the user choose between his classic mode and the volume-weighted mode.
Every line of the indicator is customizable with this function.
The Kijun and Tenkan lines are choosable from:
1. The normal version, so the average of the high and the low of the selected period
2. The volume mode, so the average price of the selected input ponderated to the volume
The Senkau Span A is the average from the Kijun (fast line) and the Tenkan (slow line) lines and it's choosable from:
1. The normal price version
2. The volume mode
3. The average between points 1 and 2
4. The automatic average between the two fast lines that you've chosen
The Senkau Span B is the slowest line of the indicator, used to determine the long-term trend, and can be chosen from:
1. The normal average price between the high and the low of the selected period
2. The volume average price, using the Volume Weighted Moving Average
The Trama Backline is the popular "LUX Algo" T.R.A.M.A. indicator, which I'm thankful for, and can be fantastically used to display the current trend strength and condition. This line is readable in the following way:
- If the line is moving sideways, the trend may be in a consolidation phase
- If the line is moving upwards or downwards, the trend may be in a trend phase
Last Price minus Open Price Intraday VolumeLast Price minus Open Price Intraday Volume
Change in price from day Open price to Last Price indicate the stock price movement. Last Price minus Open Price Intraday Volume indicator is framed on volume change during change in price from day Open price to Last Price. It takes into account the average intraday volume based on intraday length of bars and actual volume attributed to change in price from day Open Price to Last Price. The indicator reflects the change in trend .By analyzing the position of price on the basis of average change in volume during intraday with that of volume attributed to change in price from day open Price to Last price one may decide upon the course of trade.
DISCLAIMER: For educational and entertainment purposes only. Nothing in this content should be interpreted as financial advice or a recommendation to buy or sell any sort of security or investment including all types of crypto.
Kitti-Playbook Request.Volume X Price R0.00Date Jan 31 2023
Objective : To display value of Volume X Last Price for Stock Market and Necessary Symbol information such as Listed Shares , Volume
Calculation :
Volume X Price = Volume X Last Price ( Market Cap )
Liquidity Swings [LuxAlgo]The liquidity swings indicator highlights swing areas with existent trading activity. The number of times price revisited a swing area is highlighted by a zone delimiting the swing areas. Additionally, the accumulated volume within swing areas is highlighted by labels on the chart. An option to filter out swing areas with volume/counts not reaching a user-set threshold is also included.
This indicator by its very nature is not real-time and is meant for descriptive analysis alongside other components of the script. This is normal behavior for scripts detecting pivots as a part of a system and it is important you are aware the pivot labels are not designed to be traded in real-time themselves.
🔶 USAGE
The indicator can be used to highlight significant swing areas, these can be accumulation/distribution zones on lower timeframes and might play a role as future support or resistance.
Swing levels are also highlighted, when a swing level is broken it is displayed as a dashed line. A broken swing high is a bullish indication, while a broken swing low is a bearish indication.
Filtering swing areas by volume allows to only show significant swing areas with an higher degree of liquidity. These swing areas can be wider, highlighting higher volatility, or might have been visited by the price more frequently.
🔶 SETTINGS
Pivot Lookback : Lookback period used for the calculation of pivot points.
Swing Area : Determine how the swing area is calculated, "Wick Extremity" will use the range from price high to the maximum between price close/open in case of a swing high, and the range from price low to the minimum between price close/open in case of a swing low. "Full Range" will use the full candle range as swing area.
Intrabar Precision : Use intrabar data to calculate the accumulated volume within a swing area, this allows obtaining more precise results.
Filter Areas By : Determine how swing areas are filtered out, "Count" will filter out swing areas where price visited the area a number of time inferior to the user set threshold. "Volume" will filter out swing areas where the accumulated volume within the area is inferior to the user set threshold.
🔹 Style
Swing High : Show swing highs.
Swing Low : Show swing lows.
Label Size : Size of the labels on the chart.
Note that swing points are confirmed after Pivot Lookback bars, as such all elements are displayed retrospectively.
