OPEN-SOURCE SCRIPT
Volume Reversals
The "Volume Reversals" indicator is a trading tool designed to identify potential buy and sell signals based on volume patterns.
Features
Filter Signals : Traders can enable or disable additional filtering of signals, which refines the conditions under which buy and sell labels are displayed.
Buy and Sell Labels: The indicator dynamically places labels on the chart to signify buy ("▲+") and sell ("▼+") opportunities. Buy labels appear at low points of bars with a green upward-pointing arrow, while sell labels appear at high points with a red downward-pointing arrow.
Customizable Alerts: Users can set alerts for buy and sell signals, receiving notifications when conditions match predefined patterns.
Logic Explained
This indicator is suited for various assets and timeframes, especially in markets where volume plays a significant role in price dynamics.
Features
Filter Signals : Traders can enable or disable additional filtering of signals, which refines the conditions under which buy and sell labels are displayed.
Buy and Sell Labels: The indicator dynamically places labels on the chart to signify buy ("▲+") and sell ("▼+") opportunities. Buy labels appear at low points of bars with a green upward-pointing arrow, while sell labels appear at high points with a red downward-pointing arrow.
Customizable Alerts: Users can set alerts for buy and sell signals, receiving notifications when conditions match predefined patterns.
Logic Explained
- Volume Comparison: The script examines a sequence of the last five volume bars to detect increasing or decreasing trends.
- Price Action Analysis: Each volume bar is paired with a corresponding price action (bullish or bearish) from the same period.
- Signal Conditions: A signal is generated under two scenarios:
- Normal Conditions: Sequential increase/decrease in volume over three bars accompanied by bearish/bullish price action, followed by a dip in volume with a bullish/bearish bar.
- Filtered Conditions (if filter is active): Requires all last four bars to be bearish/bullish, the most recent bar's volume to be less than the immediate previous, and then exceeds the volume two bars prior, closing bullish/bearish.
This indicator is suited for various assets and timeframes, especially in markets where volume plays a significant role in price dynamics.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.