Larry Williams POIV A/D [tradeviZion]

1 Apr

Larry Williams' POIV A/D [TradeVizion] - Release Notes v1.0
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Release Date: 01 April 2025

OVERVIEW
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The Larry Williams POIV A/D (Price, Open Interest, Volume Accumulation/Distribution) indicator implements Williams' original formula while adding advanced divergence detection capabilities. This powerful tool combines price movement, open interest, and volume data to identify potential trend reversals and continuations.

FEATURES
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- Implements Larry Williams' original POIV A/D formula
- Divergence detection system:
* Regular divergences for trend reversal signals
* Hidden divergences for trend continuation signals
- Fast Mode option for earlier pivot detection
- Customizable sensitivity for divergence filtering
- Dynamic color visualization based on indicator direction
- Adjustable smoothing to reduce noise
- Automatic fallback to OBV when Open Interest is unavailable

FORMULA
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POIV A/D = CumulativeSum(Open Interest * (Close - Close[1]) / (True High - True Low)) + OBV

Where:
- Open Interest: Current period's open interest
- Close - Close[1]: Price change from previous period
- True High - True Low: True Range
- OBV: On Balance Volume

DIVERGENCE TYPES
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1. Regular Divergences (Reversal Signals):
- Bullish: Price makes lower lows while indicator makes higher lows
- Bearish: Price makes higher highs while indicator makes lower highs

2. Hidden Divergences (Continuation Signals):
- Bullish: Price makes higher lows while indicator makes lower lows
- Bearish: Price makes lower highs while indicator makes higher highs

REQUIREMENTS
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- Works best with futures and other instruments that provide Open Interest data

- Automatically adapts to work with any instrument by using OBV when OI is unavailable


USAGE GUIDE
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1. Apply the indicator to any chart
2. Configure settings:
- Adjust sensitivity for divergence detection
- Enable/disable Fast Mode for earlier signals
- Customize visual settings as needed
3. Look for divergence signals:
- Regular divergences for potential trend reversals
- Hidden divergences for trend continuation opportunities
4. Use the alerts system for automated divergence detection


KNOWN LIMITATIONS
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- Requires Open Interest data for full functionality
- Fast Mode may generate more signals but with lower reliability

ACKNOWLEDGEMENTS
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This indicator is based on Larry Williams' work on Open Interest analysis. The implementation includes additional features for divergence detection while maintaining the integrity of the original formula.

4 Jun

Nota Keluaran

Larry Williams POIV A/D [tradeviZion] - Version 2.0
Release Notes - June 04, 2025

Problem Solved in V2
The original V1 script had an issue: Open Interest data for commodities was incomplete.
The `request.security` function only pulls OI for the current contract, but COT reports show total OI as the sum of all active contracts.

V2 Solution
Now uses COT (Commitment of Traders) data for accurate total Open Interest:

• Gets total OI across all active contracts (not just current contract)
  
• Uses TradingView/Request/1 library for COT data access
  
• Three COT report types: Legacy, Disaggregated, Financial
  
• Option to include futures + options combined OI
  

What's Different
V1 (Incomplete):

// Only gets current contract OI
oiClose = request.security(symbol + "_OI", timeframe, close)

V2 (Complete):

// Gets total OI from all contracts via COT data
openInterest = Request.commitmentOfTraders("Open Interest", "No direction", includeOptions, cftcCode, typeCOT)

New Data Table
Shows the difference between incomplete vs complete data:

• Individual Contract OI (what V1 used)
  
• COT Total OI (what V2 uses)
  
• Ratio showing how much more data V2 captures
  
• Difference in contract count