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Optimism Pessimism Index - Multi Timeframe [WYCKOFF ARSENAL]WYCKOFF ARSENAL is now available on TradingView! Based on <> (Richard D. Wyckoff) Noted Indicators: ▪ Optimism Pessimism Index ◄ ▪ Force Index ▪ Technometer ▪ Momentum Main Features: ▪ Multi Timeframe is available ▪ Volume based indicators ▪ Can be used on pairs that have volume data ──────────────────────────── Highlights > Optimism Pessimism Index or OP The value of the OP is not important. The action of the OP is important. The action of the index must be compared to its previous action or to the price index over the same period of time. > Technometer or TEC The purpose of the Technometer is to provide a mathematical indication of the degree to which the market is overbought or oversold. The value of the Technometer could be as high as 100 or as low as 0. The other possible values would represent degrees of overbought or oversold. How to read the Technometer: | Overbought means vulnerable to a reaction | 100 - completely overbought market. ── 60 - actual overbought extreme. ──── 50 or higher is considered to be clearly over bought. ────── lower than 50 - relatively overbought. ──────── Everything in between clearly overbought and clearly oversold is neutral. ────────── A reading of 44.4 is absolute neutrality. ──────── Everything in between clearly overbought and clearly oversold is neutral. ────── higher than 38 - relatively oversold. ──── 38 or lower is considered to be clearly over sold. ── 28 - actual oversold extreme. 0 - completely oversold market. | Oversold means vulnerable to a rally | > Force The purpose of the Force Index is to provide an indication of the pressure being applied to push the market lower or the pull being applied to the market to pull it higher. > Momentum The purpose of the Momentum is to provide a measure of the speculative interest in the market.
Penunjuk Pine Script®
oleh KryptoNight
36
JSE Wyckoff Wave Volume Code// The Stock Market Institute (SMI) describes an propriety indicator the "SMI Wyckoff Wave" for US Stocks. This code is an attempt to make a Wyckoff Wave for the Johannesburg Stock Exchange (JSE). // The JSE Wyckoff Wave is in a separate code. This is the code for the volume of the wave. Please see code for the JSE Wyckoff Wave which goes with this indicator. // // The Wave presents a normalized price for the 10 selected stocks (An Index for the 10 stocks). // The theory is to select stocks that are widely held, market leaders, actively traded and participate in important market moves. // This is only my attempt to select 10 stocks and a different selection can be made. // I am not certain how SMI determine their weightings but what I have done it to equalize the Rand value of the stock volumne so that moves are of equal magnitude. // The then provides a view of the overall condition of the market and volume flow in the market. // // I have used the September 2018 price to normalize the stock price for the 10 selected stocks based. The stocks and weightings can be changed periodically depending on the performance and leadership. // // Please, let me know if there is a better work around this. The stocks and their weightings are: "JSE:BTI"/0.79 "JSE:SHP"/2.87 "JSE:NPN"/0.18 "JSE:AGL"/1.96 "JSE:SOL"/1.0 "JSE:CFR"/4.42 "JSE:MND"/1.40 "JSE:MTN"/7.63 "JSE:SLM"/7.29 "JSE:FSR"/8.25
Penunjuk Pine Script®
oleh SteynTrade
1
JSE Wyckoff WaveThe Stock Market Institute (SMI) describes an propriety indicator the "SMI Wyckoff Wave" for US Stocks. This code is an attempt to make a Wyckoff Wave for the Johannesburg Stock Exchange (JSE). Once the wave has been established the volume can also be calculated. Please see code for the JSE Wyckoff Wave Volume which goes with this indicator. The Wave presents a normalized price for the 10 selected stocks (An Index for the 10 stocks). The theory is to select stocks that are widely held, market leaders, actively traded and participate in important market moves. This is only my attempt to select 10 stocks and a different selection can be made. I am not certain how SMI determine their weightings but what I have done it to equalize the Rand value of the stock so that moves are of equal magnitude. The then provides a view of the overall condition of the market and volume flow in the market. I have used the September 2018 price to normalize the stock price for the 10 selected stocks based. The stocks and weightings can be changed periodically depending on the performance and leadership. Most Indecies when constructed assume that all high prices and all low prices happen at the same time and therefor inflate the wicks of the bars. To make the wave more representatives for the SMI Wyckoff Wave the price is determined on the 5 minute timeframe which removes this bias. However, TradingView does not calculate properly when selecting a lower timeframe than in current period. A work around is to call the sma of the highs and add these which provides more realistic tails. Please, let me know if there is a better work around this. The stocks and their weightings are: "JSE:BTI"*0.79 "JSE:SHP"*2.87 "JSE:NPN"*0.18 "JSE:AGL"*1.96 "JSE:SOL"*1.0 "JSE:CFR"*4.42 "JSE:MND"*1.40 "JSE:MTN"*7.63 "JSE:SLM"*7.29 "JSE:FSR"*8.25
Penunjuk Pine Script®
oleh SteynTrade
Vol (Wyckoff)I like TradingView Built-in Volume indicator, because it is overlay with price chart, and has appropriate scale. I made similar style volume indicator and added concept of Laws of Wyckoff. caution : You need {Chart settings} → {Appearance} → {Bottom margin} is set 0 %, to make chart look good. : You need {Chart settings} → {Symbol} → {body} ,{Borders} and {Wick} are set dark color, to easier to identify the color of candles. This ３ Laws of Wyckoff are my interpretation, not the original. ///////// The Law of Supply and Demand ////////// I define the Demand as volume that is larger than the previous volume and has close > open bar. I define the Supply as volume that is larger than the previous volume and has close <= open bar. Volume Flow is value difference between Demand MA and Supply MA. I imitate the idea of "Volume Flow v3" by oh92. ///////// The Law of Cause and Effect ////////// Enough volume(Cause) makes reliable price movement(Effect). If there is not enough volume, its price movement is suspicious. I define enough volume as volume that is larger than previous volume. I define large volume as volume that is larger than previous volume and over volume MA(using all volume). I define "not enough volume" as volume that is smaller than previous volume. I borrowed the idea from "The Lie Detector" by LucF. Enough volume(increasing volume) is painted by dark color and Large volume(increasing volume and over volume MA) is painted by light color. "Not enough volume"(decreasing volume) is painted by empty color(default is black). This coloring are reflected to price candles. So, you need {Chart settings} → {Symbol} → {body} ,{Borders} and {Wick} are set dark color, to easier to identify the color of candles. ///////// The Law of Effort and Result ////////// If volume (effort) cannot move price (result), it may be Absorption(potential reversal). "Factor of Volume Density" determines the threshold of Absorption. Small Absorption is displayed by gray square at bottom. Large Absorption is displayed by white square at bottom. ///////// Volume Spike ////////// Volume Spike sometimes precede or confirm trend direction. "Factor of Volume Spike" determines the threshold of Volume Spike. Volume Spike is displayed by light bulb.
Penunjuk Pine Script®
oleh akutsusho
20
Wyckoff Accumulation Distribution Wyckoff Accumulation & Distribution Indicator (RSI-Based) This Pine Script is a technical analysis indicator built around the Wyckoff Method, designed to detect accumulation and distribution phases using RSI (Relative Strength Index) and pivot points. It automatically marks key structural turning points on the chart and highlights relevant zones with colored boxes. What Does It Do? Draws accumulation and distribution boxes based on RSI behavior. Automatically detects Wyckoff structural signals: SC (Selling Climax) AR (Automatic Rally) ST (Secondary Test) BC (Buying Climax) DAR (Automatic Reaction) DST (Secondary Test - Distribution) Identifies trend transitions by detecting sideways RSI movement. Attempts to detect spring and UTAD-like deviations based on RSI reversals. Uses RSI extremes in conjunction with pivot points to generate Wyckoff signals. How Does It Work? RSI Zone: It identifies sideways markets when RSI stays within ±20 of the 50 level (this range is configurable). Pivot Points: It detects pivot highs/lows that sync with RSI values (pivotLen is adjustable). Trend Box Drawing: When RSI exits the sideways zone, the script draws a gray box between the highest high and lowest low within that range. If RSI breaks upward, the box becomes green (Accumulation); if downward, it becomes red (Distribution). Wyckoff Structural Points: SC/BC: Detected when a pivot occurs with RSI below/above a threshold. AR/DAR: The next opposite pivot after SC or BC. ST/DST: The next same-direction pivot after AR or DAR. How to Use It Works best on 4H or daily charts for more reliable signals. Shorter timeframes may generate noise. Primarily used for interpreting RSI structures through the lens of Wyckoff methodology. Box colors help quickly identify market phase: Green box: Likely Accumulation Red box: Likely Distribution Triangular markers show key signals: SC, AR, ST: Accumulation points BC, DAR, DST: Distribution points Use these signals alongside price action to manually interpret Wyckoff phases. image.binance.vision image.binance.vision What Is the Wyckoff Method? The Wyckoff Method, developed in the 1930s by Richard Wyckoff, is a market analysis approach that focuses on supply and demand dynamics behind price movements. Wyckoff’s 5 Phases: Accumulation: Smart money gradually buying at low prices. Markup: Price begins trending upwards. Distribution: Smart money selling to retail traders. Markdown: Downtrend begins as supply outweighs demand. Re-accumulation / Re-distribution: Trend-continuation phases with consolidations. This indicator is specifically designed to detect phase 1 (Accumulation) and phase 3 (Distribution). Extra Notes Repainting is minimal, as pivots are confirmed using historical candles. Labels use plotshape for a clean, minimalist visual style. Other Wyckoff events (like SOS, LPS, UT, UTAD) could be added in future updates. This script does not generate buy/sell signals; it is meant for structural interpretation.
Penunjuk Pine Script®
oleh faytterro
4
Calculate target by Range [Wyckoff,PnF]First of all, I would like to thank the author @LonesomeTheBlue. This indicator developed on the source code "Point and Figure (PnF)" by author @LonesomeTheBlue. This indicator calculate the range (Cause) of Phase accumulation or distribution to calculate the taget (Effect) based on the Wyckoff Method. Formula for calculate move value target : Col * BoxSize * Reversal Col -> Number of Column (PnF) in the range (Cause) BoxSize -> Value in one Box (PnF) Reversal -> Reversal (PnF)
Penunjuk Pine Script®
oleh meomeo105
17