INVITE-ONLY SCRIPT
Innotrade Market Cycle Orderflow Candles
Tired of noisy, lagging indicators that give conflicting signals? This script solves that problem by transforming a sophisticated, multi-oscillator market engine into an intuitive and visually stunning candlestick format.
Instead of looking at a single, often unreliable line, you can now visualize the consensus of RSI, Stochastic RSI, and the Donchian Channel Oscillator as a single, easy-to-read "Orderflow Candle." This provides unprecedented clarity into market momentum, cycles, and potential turning points.
Core Concept: The Power of Consensus
Standard oscillators like RSI are useful, but they only tell one part of the story and are often prone to false signals ("whipsaws"). This indicator takes a different approach by acting as a "team of experts":
The Engine: It calculates RSI, Stochastic RSI, and the Donchian Channel Oscillator (DCO) in the background. You can even assign different "weights" to each one, deciding which expert has the loudest voice.
The Consensus: It blends these three values into a single, unified "Market Cycle" value. A signal is only generated when there is a consensus among the components, leading to smoother and more reliable output.
The Visualization: This final, blended value is plotted as a candlestick:
Candle Color: Green shows rising momentum (the cycle is strengthening); Red shows falling momentum (the cycle is weakening).
Candle Wicks: The wicks show the full momentum range of the bar, calculated from the high and low of the price candle.
Candle Body: The body represents the momentum change from the previous close to the current close.
Key Features
Advanced Blended Engine: Combines RSI, DCO, and StochRSI for a robust, noise-filtered output.
Intuitive Orderflow Candle Visualization: Instantly see momentum direction and range.
Customizable Component Weights: Fine-tune the engine by giving more or less weight to each of the three core oscillators.
Selectable Moving Average Overlay: Add an SMA, EMA, or SMMA (RMA) to the candles for dynamic signal generation.
Fully Integrated Alert System: Create alerts for overbought/oversold zone crosses and for crossovers/crossunders of the Moving Average.
Highly Customizable Style: Control the colors, levels (70/30, 80/20, etc.), and visibility of all components.
How to Use This Indicator for Trading
Never use any single signal in isolation. The strongest trades come from confluence, where multiple signals align.
📈 Primary BUY Signals
MA Crossover (Confirmation): A green candle closes above the Moving Average line. This confirms that short-term momentum has turned bullish.
Oversold Exit (Reversal Warning): The indicator was in the oversold zone (e.g., below 30) and crosses back up above it. This suggests bearish pressure is exhausted.
Bullish Divergence (Strongest Signal): The price chart makes a Lower Low, but the indicator's candles make a Higher Low. This is a powerful sign that a major reversal to the upside is likely.
A+ BUY SETUP: Spot a Bullish Divergence, wait for the indicator to exit the oversold zone, and then enter when a green candle closes above the Moving Average.
📉 Primary SELL Signals
MA Crossunder (Confirmation): A red candle closes below the Moving Average line. This confirms that short-term momentum has turned bearish.
Overbought Exit (Reversal Warning): The indicator was in the overbought zone (e.g., above 70) and crosses back down below it. This suggests bullish pressure is exhausted.
Bearish Divergence (Strongest Signal): The price chart makes a Higher High, but the indicator's candles make a Lower High. This is a powerful warning that a major reversal to the downside is imminent.
A+ SELL SETUP: Spot a Bearish Divergence, wait for the indicator to exit the overbought zone, and then enter when a red candle closes below the Moving Average.
Settings Overview
Component Oscillators & Weights: Control the settings and influence of RSI, DCO, and StochRSI.
Moving Average Overlay: Customize the MA type, length, and appearance.
Levels & Style: Adjust the overbought/oversold levels and middle line.
Alerts: Enable or disable the specific alert conditions you want to use.
We hope this tool gives you a significant edge in your analysis. Happy trading!
Disclaimer: This indicator is a tool for analysis, not a financial advisory service. Always use signals in conjunction with price action, market structure, and proper risk management.
Instead of looking at a single, often unreliable line, you can now visualize the consensus of RSI, Stochastic RSI, and the Donchian Channel Oscillator as a single, easy-to-read "Orderflow Candle." This provides unprecedented clarity into market momentum, cycles, and potential turning points.
Core Concept: The Power of Consensus
Standard oscillators like RSI are useful, but they only tell one part of the story and are often prone to false signals ("whipsaws"). This indicator takes a different approach by acting as a "team of experts":
The Engine: It calculates RSI, Stochastic RSI, and the Donchian Channel Oscillator (DCO) in the background. You can even assign different "weights" to each one, deciding which expert has the loudest voice.
The Consensus: It blends these three values into a single, unified "Market Cycle" value. A signal is only generated when there is a consensus among the components, leading to smoother and more reliable output.
The Visualization: This final, blended value is plotted as a candlestick:
Candle Color: Green shows rising momentum (the cycle is strengthening); Red shows falling momentum (the cycle is weakening).
Candle Wicks: The wicks show the full momentum range of the bar, calculated from the high and low of the price candle.
Candle Body: The body represents the momentum change from the previous close to the current close.
Key Features
Advanced Blended Engine: Combines RSI, DCO, and StochRSI for a robust, noise-filtered output.
Intuitive Orderflow Candle Visualization: Instantly see momentum direction and range.
Customizable Component Weights: Fine-tune the engine by giving more or less weight to each of the three core oscillators.
Selectable Moving Average Overlay: Add an SMA, EMA, or SMMA (RMA) to the candles for dynamic signal generation.
Fully Integrated Alert System: Create alerts for overbought/oversold zone crosses and for crossovers/crossunders of the Moving Average.
Highly Customizable Style: Control the colors, levels (70/30, 80/20, etc.), and visibility of all components.
How to Use This Indicator for Trading
Never use any single signal in isolation. The strongest trades come from confluence, where multiple signals align.
📈 Primary BUY Signals
MA Crossover (Confirmation): A green candle closes above the Moving Average line. This confirms that short-term momentum has turned bullish.
Oversold Exit (Reversal Warning): The indicator was in the oversold zone (e.g., below 30) and crosses back up above it. This suggests bearish pressure is exhausted.
Bullish Divergence (Strongest Signal): The price chart makes a Lower Low, but the indicator's candles make a Higher Low. This is a powerful sign that a major reversal to the upside is likely.
A+ BUY SETUP: Spot a Bullish Divergence, wait for the indicator to exit the oversold zone, and then enter when a green candle closes above the Moving Average.
📉 Primary SELL Signals
MA Crossunder (Confirmation): A red candle closes below the Moving Average line. This confirms that short-term momentum has turned bearish.
Overbought Exit (Reversal Warning): The indicator was in the overbought zone (e.g., above 70) and crosses back down below it. This suggests bullish pressure is exhausted.
Bearish Divergence (Strongest Signal): The price chart makes a Higher High, but the indicator's candles make a Lower High. This is a powerful warning that a major reversal to the downside is imminent.
A+ SELL SETUP: Spot a Bearish Divergence, wait for the indicator to exit the overbought zone, and then enter when a red candle closes below the Moving Average.
Settings Overview
Component Oscillators & Weights: Control the settings and influence of RSI, DCO, and StochRSI.
Moving Average Overlay: Customize the MA type, length, and appearance.
Levels & Style: Adjust the overbought/oversold levels and middle line.
Alerts: Enable or disable the specific alert conditions you want to use.
We hope this tool gives you a significant edge in your analysis. Happy trading!
Disclaimer: This indicator is a tool for analysis, not a financial advisory service. Always use signals in conjunction with price action, market structure, and proper risk management.
Skrip jemputan sahaja
Hanya pengguna yang diluluskan oleh penulis boleh mengakses skrip ini. Anda perlu memohon dan mendapatkan kebenaran untuk menggunakannya. Ini selalunya diberikan selepas pembayaran. Untuk lebih butiran, ikuti arahan penulis di bawah atau hubungi terus Innotrade_AJ.
TradingView tidak menyarankan pembayaran untuk atau menggunakan skrip kecuali anda benar-benar mempercayai penulisnya dan memahami bagaimana ia berfungsi. Anda juga boleh mendapatkan alternatif sumber terbuka lain yang percuma dalam skrip komuniti kami.
Arahan penulis
Instead of looking at a single, often unreliable line, you can now visualize the consensus of RSI, Stochastic RSI, and the Donchian Channel Oscillator as a single, easy-to-read "Orderflow Candle." This provides unprecedented clarity into market momentum
Amaran: sila baca panduan kami untuk skrip jemputan sahaja sebelum memohon akses.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Skrip jemputan sahaja
Hanya pengguna yang diluluskan oleh penulis boleh mengakses skrip ini. Anda perlu memohon dan mendapatkan kebenaran untuk menggunakannya. Ini selalunya diberikan selepas pembayaran. Untuk lebih butiran, ikuti arahan penulis di bawah atau hubungi terus Innotrade_AJ.
TradingView tidak menyarankan pembayaran untuk atau menggunakan skrip kecuali anda benar-benar mempercayai penulisnya dan memahami bagaimana ia berfungsi. Anda juga boleh mendapatkan alternatif sumber terbuka lain yang percuma dalam skrip komuniti kami.
Arahan penulis
Instead of looking at a single, often unreliable line, you can now visualize the consensus of RSI, Stochastic RSI, and the Donchian Channel Oscillator as a single, easy-to-read "Orderflow Candle." This provides unprecedented clarity into market momentum
Amaran: sila baca panduan kami untuk skrip jemputan sahaja sebelum memohon akses.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.