CMYK VRMI◊ Introduction
This script indicates the relative movement of price x volume.
◊ Origin
Based on 'The Relative Momentum Index' by Roger Altman : February, 1993 issue of Technical Analysis of Stocks & Commodities magazine.
While RSI counts up and down days from close to close, the Relative Momentum Index counts up and down days from the close relative to a close x number of days ago.
This results in an RSI that is smoother. The input has been changed to the change of a smoothed close multiplied by a smoothed volume.
The polarity of VRMI indicates bearish/bullish movement.
◊ Adjustments
CMYK color theme applied.
◊ Usage
VRMI indicates the force the market moves with.
◊ Future Prospects
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Cari dalam skrip untuk "bear"
CMYK VRMI RAYS ◊ Introduction
Introducing VRMI in this script, an RMI based on price movement and volume, to indicate bullish and bearish trends.
This script marks the background depending on RMI <> VRMI , VRMI polarity and large buy/sell sprees.
◊ Origin
Based on 'The Relative Momentum Index' by Roger Altman : February, 1993 issue of Technical Analysis of Stocks & Commodities magazine.
While RSI counts up and down days from close to close, the Relative Momentum Index counts up and down days from the close relative to a close x number of days ago.
This results in an RSI that is smoother.
In addition VRMI reacts quick, it is used to cut off latency from RMI, and it's polarity indicates the beginning and end of a trend.
Large buy sell sprees and detected in their proportion with an sma on the volume
◊ Adjustments
CMYK color theme applied.
◊ Usage
This indicator can be used to detect trends and mark reversals.
◊ Prospects
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Bats Bearish Divergence Detector (BRED-)After the release of BUBD+ here comes BRED- for calling the tops.
6 indicators are tested for the presence of any bearish Divergences and are plotted on chart as soon as they are.
Note - Price can move up after bearish divergence as well so its not foolproof. However multiple bearish divergences signify that bulls are losing power and price might reverse downwards.
Instead of blindly trusting the divergence on this indicator I suggest that you use this as a tracking mechanism instead. Once you spot a bearish divergence here, go to the oscillator that was called by the indicator and see the strength of the divergence involved.
This way you dont have to look at the indicators for divergence all the time, just only when the indicator calls for it. (Note that different timeframes will have different divergences so make sure you watch most of them. Higher timeframes indicate larger potential reversals)
Colour -
MACD- Aqua blue
RSI - Red
Stoch RSI - pink
CCI - Orange
MFI - Teal (Blue)
RVI - Silver
If you want to change the number of indicators you can do so from the bottom and remove the indicators you dont want to see by commenting them out.
Bullish and Bearish Engulfing Patterns auto detectionThis simple indicator detects automatically most important bullish and bearish candlestick patterns formations. Used to locate potential supply and demand imbalances.
Copyright 2017 Alfonso Moreno www.set-and-forget.com
1337 VolumeThis volume indicator gives you a unique perspective and ability to analyze volume in any market. The upper line that is always >=0 represents average up volume over a user definable period while the lower line that is always <= 0 represents the average down volume over a user definable period.
green == bullish candle but volume lower than average
lime == bullish candle with above average volume
crimson == bearish candle with below average volume
red == bearish candle with above average volume
This indicator is very useful for spotting bottoms / tops (do a visual backtest and observe its behavior) as well as entry opportunities.
By default, the lookback period for average volume is 7, but I encourage you to change this value in order to find settings that work best for your particular market.
If you have any feedback or ideas for improvement, please comment.
Enjoy :D
Super Envolvente (Bullish y Bearish)Identificador de Super-envolventes (SE), se encarga de darle un color verde a la SE alzista (Bullish) verde y rojo a la bajista (Bearish).
Candlestick Patterns Identified (updated 3/11/15)I decided to republish this one without the trend filter and with all the major symbols active. This will allow for all the patterns to show up.
Due to 15 different candlestick formations in this one script, it will be difficult to turn off the last few due to screen size. You can turn off individual patterns on the settings screen.
I have everything spelled out except the hammer and inverted hammer. They are "H" and "IH" respectively on the charts. They show up so often that they cluttered the charts.
The default script has: Doji, Evening Star, Morning Star, Shooting Star, Hammer, Inverted Hammer, Bearish Harami, Bullish Harami, Bearish Engulfing, Bullish Engulfing, Piercing Line, Bullish Belt, Bullish Kicker, Bearish Kicker, Hanging man, and Dark Cloud Cover. You can turn off what you don't like. The Piercing Line, Bullish Belt, and the Kickers will usually show up better in the daily charts.
I recommend watching videos with Stephen Bigalow to get a feel for how to trade these. You will want to add an 8 EMA to your chart with his setups. Enjoy.
If you want the old version: Take a look at the related ideas below.
Candlesticks Patterns IdentifiedI was using another script that colored the bars to show the different candle patterns. Thanks to HPotter (www.tradingview.com). Unfortunately, I can't think that fast when looking across a screen of charts with different color bars. Fortunately, Tradingview came up with symbols and names on 2/26/15. I decided to take my favorite symbols and attach them to a name. This makes it easier to see what is going on and where your entry would be if it confirms. Works beautifully for me. Decided to share. I also added the ability to alter what shows up based upon a look back. A bullish engulfing at the top of a trend, or a bearish harami at the bottom of the trend, is nearly useless and clutters the chart. I have the default set for the open of the current bar to be higher or lower than the open from 5 bars back. You can adjust in the settings to what you like. This trend setting is on all the patterns except doji. If you want to see all the candle patterns, set it to "1".
The doji can be adjusted as well. I left some other patterns at the bottom of the script, but they are turned off. They became too much of a clutter for me. I prefer DovCaspi's pattern finder for hammers and stars: I use his due to the clean appearance.
The default script has: Doji, Bearish Harami, Bullish Harami, Bearish Engulfing, Bullish Engulfing, Piercing Line, Bullish Belt, Bullish Kicker, and Bearish Kicker. You can turn off what you don't like. The Piercing Line, Bullish Belt, and the Kickers will usually show up better in the daily charts.
If you would like the updated version, see the Related Ideas below:
Keltner Channel with auto highlighting of Bear/Bull reversals*** New version @ ****
All options configurable.
Reversals are marked using crosses. as well as highlighted using green/red color (depending on bull/bear). Enjoy!
Bears VS BullsThis indicator will work on ANY instrument.
The red line is a moving average of ONLY sellers in the market.
The blue line is a moving average of ONLY buyers in the market.
The period or "length" of the individual moving averages can be adjusted in the indicator settings.
The default, it is set to 50.
Buying and selling trends often provide indications of market moves such as the most recent bottom in Cryptocurrencies.
Feel free to comment and share any indicator concepts or ideas for content you would like to see added to the Technical Indicator Bundle on www.kenzing.com
Bearish signal using Point of Control (POC) with PAC by guruThis indicator code helps traders identify potential sell opportunities using several important technical indicators:
Point of Control (POC) – This is the price level where the most volume was traded over the past several days.
Previous Day's Low – This shows the lowest price reached during the previous day.
PAC (Price Action Channel) EMA – These are two moving averages (one based on the low price and one based on the close price) that help determine if the price is trending within a certain range.
Volume SMA – This is a 3-day simple moving average (SMA) of volume, which helps filter out signals based on market activity.
What the Script Does:
Point of Control (POC):
The script looks at the last 50 days (configurable) and calculates which price level had the highest trading volume.
It then plots a red line on the chart at the POC level. This is important because it helps identify areas where there was strong market interest in the past.
Volume Moving Average:
The script calculates a 3-day SMA of volume, but it excludes the current day to avoid premature signals based on today’s trading.
The volume SMA is used to ensure there’s enough market activity (with a threshold set to 25 units) before triggering a sell signal.
Price Action Channel (PAC) EMA:
The PAC consists of two exponential moving averages (EMAs):
The PAC Low EMA: This is based on the low prices over the last 34 periods (configurable).
The PAC Close EMA: This is based on the closing prices over the last 34 periods.
These EMAs help determine if the price is trending above or below certain price levels.
Sell Signal Logic: The script checks three conditions before displaying a "Sell" signal:
Price Below POC and Previous Day’s Low:
The close price must be below both the Point of Control (POC) and the previous day's low.
Volume SMA Above 25:
The 3-day volume SMA must be greater than 25. This ensures the signal only triggers when there’s enough trading volume in the market.
Today’s Low is Above PAC EMAs:
Today's low price must be above both the PAC low EMA and the PAC close EMA. This prevents sell signals when prices are already significantly below the PAC, indicating possible exhaustion in the downtrend.
If all three conditions are met, the script will display a red "Sell" label on the chart, signaling a potential selling opportunity.
No Sell Signal if Price Reverses:
If the price crosses back above the POC or the previous day's low, the script will remove the sell signal and reset for a new opportunity.
Summary of Conditions:
For the script to display a "Sell" label:
The close price must be below the Point of Control (POC) and the previous day’s low.
The 3-day volume SMA (excluding today) must be greater than 25 units.
The low price of the current day must be above both the PAC low EMA and the PAC close EMA.
If these conditions are met, a red sell label appears on the chart as a potential signal for a short (sell) trade.
Guneet-ScalperBearish trend candle color change to red with sell print
Bullish trend candle color change to green with buy print
thanks
jas toor
ETHUSD-1 MIN SCALP//@version=5
indicator("ETHUSD-1 MIN SCALP", overlay=true)
// User-defined EMA lengths
ema1_length = input(9, title="9EMA Length")
ema2_length = input(21, title="21EMA Length")
ema7_length = input(200, title="200EMA Length")
ema8_length = input(400, title="400EMA Length")
// Calculate EMAs
ema1 = ta.ema(close, ema1_length)
ema2 = ta.ema(close, ema2_length)
ema7 = ta.ema(close, ema7_length)
ema8 = ta.ema(close, ema8_length)
// Dynamic color for 9 EMA
ema1_color = ema1 > ema2 ? color.green : ema1 < ema2 ? color.red : color.blue
// Dynamic color for 200 EMA
ema7_color = ema7 > ema8 ? color.black : ema7 < ema8 ? color.white : color.fuchsia
// Plot EMAs
plot(ema1, color=ema1_color, title="9EMA")
plot(ema2, color=color.red, title="21EMA")
plot(ema7, color=ema7_color, title="200EMA")
plot(ema8, color=color.rgb(238, 255, 6), title="400EMA")
// 9EMA and 21EMA crossover alerts
bullish_cross = ta.crossover(ema1, ema2)
bearish_cross = ta.crossunder(ema1, ema2)
if bullish_cross
alert("Bullish crossover: 9EMA crossed above 21EMA", alert.freq_once_per_bar_close)
if bearish_cross
alert("Bearish crossunder: 9EMA crossed below 21EMA", alert.freq_once_per_bar_close)
Stop Hunt Indicator ║ BullVision 🧠 Overview
The Stop Hunt Indicator (SmartTrap Radar) is an original tool designed to identify potential liquidity traps caused by institutional stop hunts. It visually maps out historically significant levels where price has repeatedly reversed or rejected — and dynamically detects real-time sweep patterns based on volume, structure, and candle rejection behavior.
This script does not repurpose existing public indicators, nor does it use default TradingView built-ins such as RSI, MACD, or MAs. Its core logic is fully proprietary and was developed from scratch to support discretionary and data-driven traders in visualizing volatility risks and manipulation zones.
🔍 What the Indicator Does
This indicator identifies and visualizes potential stop hunt zones using:
Historical structure analysis: Swing highs/lows are identified via a configurable lookback period.
Liquidity level tracking: Once detected, levels are monitored for touches, age, and volume strength.
Proprietary scoring model: Each level receives a real-time significance score based on:
Age (how long the level has held)
Number of rejections (touches)
Relative volume strength
Proximity to current price
The glow intensity of plotted levels is dynamically mapped based on this score. Bright glow = higher institutional interest probability.
⚙️ Stop Hunt Detection Logic
A stop hunt is flagged when all of the following are met:
Price sweeps through a high/low beyond a user-defined penetration threshold
Wick rejection occurs (i.e., candle closes back inside the level)
Volume spikes above the average in a recent window
The script automatically:
Detects bullish stop hunts (below support) and bearish ones (above resistance)
Marks detected sweeps on-chart with optional 🔰/🚨 signals
Adjusts glow visuals based on score even after the sweep occurs
These sweeps often precede local reversals or high-volatility zones — this is not predictive, but rather a reactive mapping of market manipulation behavior.
📌 Why This Is Not Just Another Liquidity Tool
Unlike typical liquidity heatmaps or S/R indicators, this script includes:
A proprietary significance score instead of fixed rules
Multi-layer glow rendering to reflect level importance visually
Real-time scoring updates as new volume and touches occur
Combined volume × rejection × structure logic to validate stop hunts
Fully customizable detection logic (lookback, wick %, volume filters, max bars, etc.)
This indicator provides a specialized view focused solely on visualizing trap setups — not generic trend signals.
🧪 Usage Recommendations
To get started:
Add the indicator to your chart (volume-enabled instruments only)
Customize detection:
Lookback Period for structure
Penetration % for how far price must sweep
Volume Spike Multiplier
Wick rejection strength
Enable/disable features:
Glow effects
Hunt markers
Score labels
Volume highlights
Watch for:
🔰 Bullish Sweeps (below support)
🚨 Bearish Sweeps (above resistance)
Bright glowing zones = high-liquidity targets
This tool can be used for both confluence and risk assessment, especially around high-impact sessions, liquidation events, or range extremes.
📊 Volume Dependency Notice
⚠️ This indicator requires real volume data to function correctly. On instruments without volume (e.g., synthetic pairs), certain features like spike detection and scoring will be disabled or inaccurate.
🔐 Closed-Source Disclosure
This script is published as invite-only to protect its proprietary scoring, glow mapping, and detection logic. While the full implementation remains confidential, this description outlines all key mechanics and configurable logic for user transparency.
Mini GARDA -NoBuy Mini GARDA Ultimate Trading Dashboard
Hi all ! Introducing Mini GARDA -NoBuy, a versatile all-in-one indicator for scalping, swing, or position trading. Packed with tools to simplify your analysis. I am sharing this for free to help the community, so please respect my work and don’t resell it.
Key Features:
Custom EMA Sets: Pick from 11 EMA combos (e.g., 5/8/13 for scalping, 10/20/50/200 for swings) with on-chart plots and a table showing % difference from price.
EMA Gap Fill (New!): Visualize momentum with green (bullish) or red (bearish) fill between the two shortest EMAs (e.g., 5/8 or 21/55).
Multi-Timeframe RSI: Track RSI across your chosen timeframes (1m to Monthly) in a clean table for momentum insights.
Market Condition Dashboard: Green/red checklist for uptrends, 52-week highs, VWAP, Bollinger Bands, and more.
Darvas Box & Pivots: Spot breakouts with dynamic Darvas boxes and pivot points, plus optional 52-week high/low and VWAP lines.
Trend Table: Color-coded Uptrend, Downtrend, or Sideways signals at a glance.
Table customisation Features : Everything , each control is now in your hands
What is new
NO Buy Alerts / or anything related to buy signals.
How to Use:
Add to your chart, select your EMA and RSI sets, and use the dashboard to check market conditions. Watch the EMA fill for momentum, check RSI for overbought/oversold, and use Darvas boxes for breakout setups. Works on any asset/timeframe!
Let’s Talk!
How do you use EMAs in your trading? Drop your thoughts or feature requests below – let’s trade ideas!
Disclaimer: Not financial advice – trade responsibly! This is a free tool; please don’t resell. DM for any update. x.com
SMI-DarknessIndicator Description: SMI-Darkness
The SMI-Darkness is an indicator based on the Stochastic Momentum Index (SMI), designed to help identify the strength and direction of an asset's trend, as well as potential buy and sell signals. It displays a smoothed SMI using multiple moving average options to customize the indicator’s behavior according to the user’s trading style.
Main Features
Smoothed SMI: Calculates the traditional SMI and smooths it using a user-configurable moving average, improving signal clarity.
Signal Line: Displays a smoothed signal line to identify crossovers with the SMI, generating potential entry or exit points.
Histogram: Shows the difference between the smoothed SMI and the signal line, visually highlighting trend strength. Blue bars indicate buying strength, while yellow bars indicate selling strength.
Horizontal Lines: Includes overbought (+40) and oversold (-40) levels, plus a neutral zero level to aid interpretation.
Indicator Parameters
SMI Short Period: Sets the short period used to calculate the SMI (default 5). Lower periods make the indicator more sensitive.
SMI Signal Period: Sets the period to smooth the signal line (default 5). Adjust to control the signal line's smoothness.
Moving Average Type: Choose the moving average type to smooth the SMI and signal line. Options include:
SMA (Simple Moving Average)
SMMA (Smoothed Moving Average)
EMA (Exponential Moving Average)
WMA (Weighted Moving Average)
HMA (Hull Moving Average)
JMA (Jurik Moving Average) — Note: This is not an original or proprietary moving average but a publicly available open-source version created by TradingView users.
VWMA (Volume-Weighted Moving Average)
KAMA (Kaufman Adaptive Moving Average)
How to Use
Trend Identification: Observe the position of the smoothed SMI relative to the signal line and the histogram values.
When the histogram is positive (blue bars), momentum is bullish.
When the histogram is negative (yellow bars), momentum is bearish.
Buy and Sell Signals:
A crossover of the smoothed SMI above the signal line may indicate a buy signal.
A crossover of the smoothed SMI below the signal line may indicate a sell signal.
Overbought/Oversold Levels:
SMI values above +40 suggest potential overbought conditions, signaling caution on long positions.
Values below -40 suggest potential oversold conditions, indicating possible buying opportunities.
Customization: Adjust the parameters to balance sensitivity and noise, choosing the moving average type that best fits your trading style.
Black RSI (Pro Suite)Black RSI (Pro Suite) is combination of RSI (Relative Strength Index), Volume RSI, Heikin Ashi RSI & other multi Oscillators with multi features into one indicator, features like (Quad Divergences, Multi Time Frame RSI, MTF RSI Panel, Oscillator Support/Resistance/Wedges/Trendlines, Oscillator Moving Average/BBs, Smooth RSI, RSI Price Estimator, Oscillator Over bought/sold Bars, Osc OB/OS Zones, Osc OB/OS Highlights, additionally Black RSI indicator is flexible & completely customizable).
Indicator goal: I have tried my best to organized RSI & other suitable oscillators and oscillator useful tools into one simple and free indicator for Tradingview users (specifically for Tradingview 'basic' subscription users). suggestions are always welcome. please give feedback & appreciate if you like my work.
Black RSI Indicator Features Summary:
Black RSI indicator includes many features mainly relevant to RSI and other Oscillators, these are briefly highlighted below:
Black RSI Dashboard
Multi Oscillators: Choose between multiple oscillators. All oscillators settings are customizable.
Multi Symbol: Multi Symbol Support, applicable on all oscillators
RSI (Relative Strength Index)
VRSI (Volume Relative Strength Index)
HA RSI (Heikin Ashi Relative Strength Index)
OBV (On Balance Volume)
CVD (Comulative Volume Delta)
MFI (Money Flow Index)
UO (Ultimate Oscillator)
MOM (Momentum Oscillator)
ATR (Average True Range)
Stoch (Stochastic Oscillator)
Stoch RSI (Stochastic RSI)
Oscillator Primary Tools ◢
Oscillator Moving Average/Bollinger Bands
Smooth RSI
Multi Timeframe RSI
Multi Timeframe RSI Panel
RSI Price Estimator
Oscillator Support/Resistance/Wedges/Trendlines
Oscillator Moving Average/BBs: Shows Moving Average for selected oscillator.
Smooth Smooth: Smooths out RSI
Multi Timeframe RSI: Displays Multiple Time Frame/Multiple Symbol RSI and converts it and shows it as it is in current time frame without effecting Primary RSI
Multi Timeframe RSI Panel: Displays Multiple Time Frame/Multiple Symbol RSI values of user input specific timeframes in compact panel (max 8 Time frames)
RSI Price Estimator: Calculates RSI estimate price values of 3 different user specific RSI input levels, RSI x MA cross price and RSI future value of user specific price input level.
Oscillator Support/Resistance/Wedges/Trendlines: Draws Trendlines, Wedges and Support & Resistance lines on selected oscillator
Oscillator Quad Divergence ◢
1st Oscillator Divergence: Traditional divergence indicator with enhancements & customization
2nd Oscillator Divergence: Traditional divergence indicator with enhancements & customization
3rd Oscillator Divergence: Advanced Divergence indicator with source selection, RSI/Price threshold, potential divergences & customization
4th Oscillator Divergence: Pivots divergence indicator with flexible pivots selection & customization
Regular bullish divergences are indicated when price is forming lower lows while an oscillator shows higher lows.
Regular bearish divergences are indicated when price is forming higher highs while an oscillator shows lower highs.
While regular divergences indicate trend reversals, hidden divergences indicate a trend continuation.
When the price is making higher lows and the oscillator is showing lower lows, we speak of a bullish hidden divergence.
When the price is making lower highs and the oscillator shows higher highs, it's a bearish hidden divergence.
Oscillator Secondary Tools ◢
Oscillator HH/LL pivots
Osc OB/OS Color Bars
Osc OB/OS Zones
Osc OB/OS Highlights
Background
Oscillator HH/LL pivots: Shows HH/LL pivot points on selected oscillator
Osc OB/OS Color Bars: Plots color chart bars based on RSI, MFI, Stochastic, Stochastic RSI or combine overbought/oversold conditions
Osc OB/OS Zones: Plots Osc OB/OS Zones with user input levels
Osc OB/OS Highlights: Highlight oscillator OB/OS background area
Background: background color customization
+ Primary RSI Settings ▾
- Primary RSI Length: User input RSI Length value
- Primary RSI Source: User RSI Source selection
- RSI Overbought Threshold: Allows the user to set the RSI overbought threshold value. This Overbought Threshold value will also be applied on "RSI Divergence overbought condition", "RSI OB Color Bars" and "Primary RSI Color Schemes
- RSI Oversold Threshold: Allows the user to set the RSI oversold threshold value. The lower band (oversold line) of RSI. This Oversold Threshold value will also be applied on "RSI Divergence oversold condition", "RSI OS Color Bars" and "Primary RSI Color Schemes
- RSI Middle Band: Allows the user to set the RSI middle band value. This value will also applied to "Center Line" color scheme from "Primary RSI Color Schemes" drop menu
- Primary RSI Colors:
Range color specifies a gradient of colors from the overbought to the oversold threshold user inputs from "Primary RSI" section. Color interpolation also a gradient but smoother than Range color. Center Line is similar but is not a gradient, linked to Middle Band ("Primary RSI" section) and changes color with RSI Middle Band. Traditional is simple with Overbought and Oversold colors change.
- RSI Bullish Band: Allows the user to plot extra/optional RSI band on RSI Oscillator (Note: it will not be plotted if "OB/OS Zone only" enabled from "OB/OS Zone Settings" section)
- RSI Bearish Band: Allows the user to plot extra/optional RSI band on RSI Oscillator (Note: it will not be plotted if "OB/OS Zone only" enabled from "OB/OS Zone Settings" section)
+ Primary RSI Smooth Settings ▾
- Smooth Moving Average Type: User selected Smooth MA type. With RSI Smooth enabled, will also effect all RSI Divergences detection (all divergences will be plot according to "Smoothed RSI line")
- Smooth Moving Average Length: User input Smooth MA length value
+ Oscillator Moving Average Settings ▾
- Osc Moving Average Colors: Allows user to select Bullish/Bearish colors of Oscillator Moving Average
- Osc Moving Average Type: Allows user to select Oscillator MA Type
- Osc Moving Average Length: User input Oscillator MA length value
- Osc Moving Average Thickness: User input Oscillator MA thickness
- BB StdDev: user input Bollinger Bands standard deviation value
+ Stochastic Oscillator Settings ▾
- Same as Traditional/Default indicator
+ Stochastic RSI Oscillator Settings ▾
- Same as Traditional/Default indicator
+ Money Index Flow Settings ▾
- Same as Traditional/Default indicator
+ Ultimate Oscillator Settings ▾
- Same as Traditional/Default indicator
+ Momentum Oscillator Settings ▾
- Same as Traditional/Default indicator
+ Average True Range Settings ▾
- Same as Traditional/Default indicator
+ Multi Timeframe RSI Settings ▾
- MTF RSI Time Frame: Allows user to select MTF RSI Time Frame
- MTF RSI Symbol: Allows user to select MTF RSI Time Symbol
- MTF RSI Length: User input MTF RSI length value
- MTF RSI Source: User selected MTF RSI source
- MTF RSI Line Width: User input MTF RSI line thickness value
- Number of Bars for MTF RSI plot
- MTF RSI Color > OB color > OS color : Allows user to select MTF RSI color with additionally Overbought/Oversold colors
+ MTF RSI Panel Settings ▾
- Select MTF RSI Type: If "Primary RSI" or "Volume RSI" selected MTF RSI Panel will show output values based on "Primary RSI" or "Volume RSI" parameters e.g. source, length, but without smooth.
- MTF RSI Panel Symbol: Allows user to select MTF RSI Panel symbol, leave symbol blank or uncheck "checkbox" for current chart symbol
- Show Symbol in Panel: Shows symbol ticker(current or user selected) in MTF RSI Panel
- Panel Background: Allows user to select MTF RSI Panel Background (enable/disable) and Background color selection
- TF1: MTF RSI Timeframe 1 user selection
- TF2: MTF RSI Timeframe 2 user selection
- TF3: MTF RSI Timeframe 3 user selection
- TF4: MTF RSI Timeframe 4 user selection
- TF5: MTF RSI Timeframe 5 user selection
- TF6: MTF RSI Timeframe 6 user selection
- TF7: MTF RSI Timeframe 7 user selection
- TF8: MTF RSI Timeframe 8 user selection
- Panel Top Offset: MTF RSI Panel offset input value
- Position: MTF RSI Panel position selection
- Text Size: MTF RSI Panel text size selection
- Bullish Colors: MTF RSI Panel bullish color selection. (Bullish colors range RSI >75, <75 to >65, <65 to >55)
- Bearish Colors: MTF RSI Panel bearish color selection. (Bearish colors range RSI <45 to >35, <35 to >25, <25)
+ RSI Price Estimator Settings ▾
- Price 1: User input value for RSI future price
- Price 2: User input value for RSI future price
- Price 3: User input value for RSI future price
- Panel Position Offset: User input value for panel position offset
- Price Decimals: User input value for output price decimals in panel
- Show RSI/OscMA cross Price: Enable/Disable RSIxOscillator MA cross future price
- Show RSI Level for Input Price: User input price for future RSI level
- Invisible Background: Enable/Disable Background
Auto Text Color > Auto color change of Panel text according to Dark/Light chart theme
+ Oscillator Support/Resistance Settings ▾
- Show Support line: Allows user to Enable/Disable Oscillator support line
Color > Auto Color: Auto color change of support line according to Dark/Light chart theme
- Show Resistance line: Allows user to Enable/Disable Oscillator resistance line
Color > Auto Color: Auto color display of resistance line according to Dark/Light chart theme
- Lookback lows/highs: User input of Lookback lows/highs value
- Distance threshold: Distance from the line to the low
- Line touch points: Number of points that have to be around the line
- Low/High left bars: User input of Low/High left bars value
- Low/High right bars: User input of Low/High right bars value
- Line style: User selection of line style
- Line thickness: User input of line thickness value
+ Oscillator 1st Divergence Settings ▾
- Divergence Source: User selection of divergence source. "High/Low" (high/low of oscillator/price divergence detection), "Close" (close of oscillator/price divergence detection) and "Both" (Both Close + High/Low of oscillator/price divergence detection). (Note: Traditional Divergence indicator default source is "High/Low")
- Pivot Lookback Right: How many candle to compare on the right side of a candle when deciding whether it is a pivot. The lower the number is, the earlier pivots (and therefore divergences) will be signaled, but the quality of those detections could be lower.
- Pivot Lookback Left: How many candle to compare on the left side of a candle when deciding whether it is a pivot. The lower the number is, the earlier pivots (and therefore divergences) will be signaled, but the quality of those detections could be lower.
- Divergence Max Length (Bars): The maximum length of a divergence (number of bars). If a detected divergence is longer than this, it will be discarded
- Divergence Min Length (Bars): The minimum length of a divergence (number of bars). If a detected divergence is shorter than this, it will be discarded
- Show Divergence as:
- Line Thickness: User input divergence line thickness value
- Label Transparency: it could reduce labels mess on oscillator line, input "100" for label text only without label background
- Labels Text Color: User label text color selection
Auto Text Color > Auto color change of label text according to Dark/Light chart theme
- Bull Divergences: Enable/Disable of Bull divergences
> Color: User selection of Bull divergence color
> Oversold only: It will show Regular Bullish RSI divergences in oversold zone only, RSI oversold threshold can be configure in "Primary RSI Settings" section.
- Bear Divergences: Enable/Disable of Bear divergences
> Color: User selection of Bear divergence color
> Overbought only: It will show Regular Bearish RSI divergences in overbought zone only, RSI overbought threshold can be configure in "Primary RSI Settings" section.
- Hidden Bull Div: Enable/Disable of Hidden Bull divergences
> Color: User selection of Hidden Bull divergence color
- Hidden Bear Div: Enable/Disable of Hidden Bear divergences
> Color: User selection of Hidden Bear divergence color
+ Oscillator 2nd Divergence Settings ▾
- Same as Oscillator 1st Divergence Settings
+ Oscillator 3rd Divergence Settings ▾
- Divergence source: User selection of divergence source . "oscillator" (divergence detection with high/low or close of selected oscillator), "price" (divergence detection with high/low or close of price)
- Bull price source: User selection of Bull price source. Bull price source: "Low" (low of price divergence detection), "Close" (close of price divergence detection) (linked to "price" in "Divergence source")
- Bear price source: User selection of Bear price source. Bear price source: "High" (high of price divergence detection), "Close" (close of price divergence detection) (linked to "price" in "Divergence source")
- Low/High left bars: How many candle to compare on the left side of a candle when deciding whether it is a pivot. The lower the number is, the earlier pivots (and therefore divergences) will be signaled, but the quality of those detections could be lower.
- Low/High right bars: How many candle to compare on the right side of a candle when deciding whether it is a pivot. The lower the number is, the earlier pivots (and therefore divergences) will be signaled, but the quality of those detections could be lower.
- Maximum lookback bars: The maximum length of a divergence (number of bars). If a detected divergence is longer than this, it will be discarded.
- Price threshold: User selection of Price threshold, higher values more lines
- RSI threshold: User selection of RSI threshold, higher values more lines
- Show Lows: Displays lows of RSI
- Show Highs: Displays highs of RSI
- Show Divergence as:
- Line Style:
- Line thickness: User input divergence line thickness value
- Label Transparency: it could reduce labels mess on oscillator line, input "100" for label text only without label background
- Labels Text Color: User label text color selection
Auto Text Color > Auto color change of label text according to Dark/Light chart theme
- Bull Divergences: Enable/Disable of Bull divergences
> Color: User selection of Bull divergence color
> Potential Bull: It will plot potential regular bull divergence with dotted line.
- Bear Divergences: Enable/Disable of Bear divergences
> Color: User selection of Bear divergence color
> Potential Bear: It will plot potential regular bear divergence with dotted line.
- Hidden Bull Div: Enable/Disable of Hidden Bull divergences
> Color: User selection of Hidden Bull divergence color
> Potential H.Bull: It will plot potential hidden bull divergence with dotted line.
- Hidden Bear Div: Enable/Disable of Hidden Bear divergences
> Color: User selection of Hidden Bear divergence color
> Hidden Bear divergence: It will plot potential hidden bear divergence with dotted line.
> Regular Bull oversold only: It will show Regular Bullish RSI divergences in oversold zone only, RSI oversold threshold can be configure in "Primary RSI Settings" section.
> Regular Bear overbought only: It will show Regular Bearish RSI divergences in overbought zone only, RSI overbought threshold can be configure in "Primary RSI Settings" section.
+ Oscillator 4th Divergences Settings ▾
- Upper Length: User pivot input value of draw upper divergence line From
- To Pivot:
- Lower Length: User pivot input value of draw lower divergence line From
- To Pivot:
- Show Divergence as:
- Line Style:
- Line thickness: User input divergence line thickness value
- Label Transparency: it could reduce labels mess on oscillator line, input "100" for label text only without label background
- Labels Text Color: User label text color selection
Auto Text Color > Auto color change of label text according to Dark/Light chart theme
- Bull Divergences: Enable/Disable of Bull divergences
> Color: User selection of Bull divergence color
- Bear Divergences: Enable/Disable of Bear divergences
> Color: User selection of Bear divergence color
- Regular Bull oversold only: It will show Regular Bullish RSI divergences in oversold zone only, RSI oversold threshold can be configure in "Primary RSI Settings" section.
- Regular Bear overbought only: It will show Regular Bearish RSI divergences in overbought zone only, RSI overbought threshold can be configure in "Primary RSI Settings" section.
+ Oscillator HHLL Pivots Settings ▾
- Pivot Length: User input value of HH/LL pivot length
> L.Text Color: User label text color selection
- HH color: User HH Label color selection
- HL color: User HL Label color selection
- LH color: User LH Label color selection
- LL color: User LL Label color selection
+ Oscillator OB/OS Colored Bars Settings▾
- Overbought/Oversold Bars Oscillator: Plots Overbought/Oversold color bars based on RSI, MFI, Stoch, Stoch RSI overbought/oversold threshold conditions separately or combined(when every oscillator reach its OB or OS threshold condition at same time).
- Overbought Bar Color: User RSI OB Bars color selection
- Oversold Bar Color: User RSI OS Bars color selection
+ Primary RSI Range Color ▾
- OB: Overbought Color
- OS: Oversold Color
- Bullish: Bullish Color
- Bearish: Bearish Color
+ Primary RSI Color interpolation ▾
- RSI Color: RSI Color
- OB: Overbought Color
- OS: Oversold Color
+ Primary RSI Center Line Color ▾
- OB: Overbought Color
- Bullish: Bullish Color
- Bearish: Bearish Color
- OS: Oversold Color
+ Primary RSI Traditional Color ▾
- RSI Color: RSI Color
- OB: Overbought Color
- OS: Oversold Color
Osc Overbought/Oversold Zones Settings ▾
- OB/OS Zone Band Lines: Enable/Disable OB/OS Zone Band Lines
- OB/OS Zones only: Only shows OB/OS Zones and disable all RSI band lines except Middle Band. Background will not be effected by this setting.
- Overbought Zone: User input value of Overbought Zone from
> To:
- Oversold Zone: User input value of Oversold Zone from
> To:
Osc Overbought/Oversold Highlights ▾
- Overbought Highlights : Enable/Disable Overbought Highlights
- Oversold Highlights : Enable/Disable Oversold Highlights
- Transparency: Gradient transparency of highlighted area
+ 'Oscillators Color Settings ▾
- Show Osc Symbol label : Enable/Disable of oscillator symbol label. Displays current oscillator symbol, but with "Override Oscillator Symbol" enabled from "Black RSI Dashboard" it will Auto/forcefully displays Override Oscillator Symbol on Oscillator
- Fade out Oscillator line: Fade out the oscillator line color, focusing only the most recent periods prominent for a clearer chart
- Fill Stoch/StochRSI lines: Fills Stoch/Stoch RSI lines
- Oscillator line thickness: user input value of oscillator line thickness
- Oscillator line offset: Shifts the oscillator to the left or to the right on the given number of bars, Default is 0
- OBV Color
- MFI Color
- ATR Color
- UO Color
- MOM Color
- CVD Bullish Color
- CVD Bearish Color
+ Background Setting ▾
- Custom Background Color: User selection of Background color
Authors & Credits: I'd like to THANK to Nabeel Black(myself), LonesomeTheBlue, iFuSiiOnzZ, jmosullivan, zdmre, creengrack, and TradingView for the locally sourced ingredients.
Disclaimer: DYOR. Not financial advice. Not a trading system. I am not affiliated with TradingView or any authors mentioned here; You alone have the sole responsibility of evaluating the script output and risks associated with the use of the script. Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely. Always trade with confluence and Risk Management.
Feedback & Bug report
if you found any bug in this indicator or any suggestion, please let me know. Please give feedback & appreciate if you like to see more future updates and indicators. Thank you
Market Zone Analyzer[BullByte]Understanding the Market Zone Analyzer
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1. Purpose of the Indicator
The Market Zone Analyzer is a Pine Script™ (version 6) indicator designed to streamline market analysis on TradingView. Rather than scanning multiple separate tools, it unifies four core dimensions—trend strength, momentum, price action, and market activity—into a single, consolidated view. By doing so, it helps traders:
• Save time by avoiding manual cross-referencing of disparate signals.
• Reduce decision-making errors that can arise from juggling multiple indicators.
• Gain a clear, reliable read on whether the market is in a bullish, bearish, or sideways phase, so they can more confidently decide to enter, exit, or hold a position.
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2. Why a Trader Should Use It
• Unified View: Combines all essential market dimensions into one easy-to-read score and dashboard, eliminating the need to piece together signals manually.
• Adaptability: Automatically adjusts its internal weighting for trend, momentum, and price action based on current volatility. Whether markets are choppy or calm, the indicator remains relevant.
• Ease of Interpretation: Outputs a simple “BULLISH,” “BEARISH,” or “SIDEWAYS” label, supplemented by an intuitive on-chart dashboard and an oscillator plot that visually highlights market direction.
• Reliability Features: Built-in smoothing of the net score and hysteresis logic (requiring consecutive confirmations before flips) minimize false signals during noisy or range-bound phases.
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3. Why These Specific Indicators?
This script relies on a curated set of well-established technical tools, each chosen for its particular strength in measuring one of the four core dimensions:
1. Trend Strength:
• ADX/DMI (Average Directional Index / Directional Movement Index): Measures how strong a trend is, and whether the +DI line is above the –DI line (bullish) or vice versa (bearish).
• Moving Average Slope (Fast MA vs. Slow MA): Compares a shorter-period SMA to a longer-period SMA; if the fast MA sits above the slow MA, it confirms an uptrend, and vice versa for a downtrend.
• Ichimoku Cloud Differential (Senkou A vs. Senkou B): Provides a forward-looking view of trend direction; Senkou A above Senkou B signals bullishness, and the opposite signals bearishness.
2. Momentum:
• Relative Strength Index (RSI): Identifies overbought (above its dynamically calculated upper bound) or oversold (below its lower bound) conditions; changes in RSI often precede price reversals.
• Stochastic %K: Highlights shifts in short-term momentum by comparing closing price to the recent high/low range; values above its upper band signal bullish momentum, below its lower band signal bearish momentum.
• MACD Histogram: Measures the difference between the MACD line and its signal line; a positive histogram indicates upward momentum, a negative histogram indicates downward momentum.
3. Price Action:
• Highest High / Lowest Low (HH/LL) Range: Over a defined lookback period, this captures breakout or breakdown levels. A closing price near the recent highs (with a positive MA slope) yields a bullish score, and near the lows (with a negative MA slope) yields a bearish score.
• Heikin-Ashi Doji Detection: Uses Heikin-Ashi candles to identify indecision or continuation patterns. A small Heikin-Ashi body (doji) relative to recent volatility is scored as neutral; a larger body in the direction of the MA slope is scored bullish or bearish.
• Candle Range Measurement: Compares each candle’s high-low range against its own dynamic band (average range ± standard deviation). Large candles aligning with the prevailing trend score bullish or bearish accordingly; unusually small candles can indicate exhaustion or consolidation.
4. Market Activity:
• Bollinger Bands Width (BBW): Measures the distance between BB upper and lower bands; wide bands indicate high volatility, narrow bands indicate low volatility.
• Average True Range (ATR): Quantifies average price movement (volatility). A sudden spike in ATR suggests a volatile environment, while a contraction suggests calm.
• Keltner Channels Width (KCW): Similar to BBW but uses ATR around an EMA. Provides a second layer of volatility context, confirming or contrasting BBW readings.
• Volume (with Moving Average): Compares current volume to its moving average ± standard deviation. High volume validates strong moves; low volume signals potential lack of conviction.
By combining these tools, the indicator captures trend direction, momentum strength, price-action nuances, and overall market energy, yielding a more balanced and comprehensive assessment than any single tool alone.
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4. What Makes This Indicator Stand Out
• Multi-Dimensional Analysis: Rather than relying on a lone oscillator or moving average crossover, it simultaneously evaluates trend, momentum, price action, and activity.
• Dynamic Weighting: The relative importance of trend, momentum, and price action adjusts automatically based on real-time volatility (Market Activity State). For example, in highly volatile conditions, trend and momentum signals carry more weight; in calm markets, price action signals are prioritized.
• Stability Mechanisms:
• Smoothing: The net score is passed through a short moving average, filtering out noise, especially on lower timeframes.
• Hysteresis: Both Market Activity State and the final bullish/bearish/sideways zone require two consecutive confirmations before flipping, reducing whipsaw.
• Visual Interpretation: A fully customizable on-chart dashboard displays each sub-indicator’s value, regime, score, and comment, all color-coded. The oscillator plot changes color to reflect the current market zone (green for bullish, red for bearish, gray for sideways) and shows horizontal threshold lines at +2, 0, and –2.
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5. Recommended Timeframes
• Short-Term (5 min, 15 min): Day traders and scalpers can benefit from rapid signals, but should enable smoothing (and possibly disable hysteresis) to reduce false whipsaws.
• Medium-Term (1 h, 4 h): Swing traders find a balance between responsiveness and reliability. Less smoothing is required here, and the default parameters (e.g., ADX length = 14, RSI length = 14) perform well.
• Long-Term (Daily, Weekly): Position traders tracking major trends can disable smoothing for immediate raw readings, since higher-timeframe noise is minimal. Adjust lookback lengths (e.g., increase adxLength, rsiLength) if desired for slower signals.
Tip: If you keep smoothing off, stick to timeframes of 1 h or higher to avoid excessive signal “chatter.”
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6. How Scoring Works
A. Individual Indicator Scores
Each sub-indicator is assigned one of three discrete scores:
• +1 if it indicates a bullish condition (e.g., RSI above its dynamically calculated upper bound).
• 0 if it is neutral (e.g., RSI between upper and lower bounds).
• –1 if it indicates a bearish condition (e.g., RSI below its dynamically calculated lower bound).
Examples of individual score assignments:
• ADX/DMI:
• +1 if ADX ≥ adxThreshold and +DI > –DI (strong bullish trend)
• –1 if ADX ≥ adxThreshold and –DI > +DI (strong bearish trend)
• 0 if ADX < adxThreshold (trend strength below threshold)
• RSI:
• +1 if RSI > RSI_upperBound
• –1 if RSI < RSI_lowerBound
• 0 otherwise
• ATR (as part of Market Activity):
• +1 if ATR > (ATR_MA + stdev(ATR))
• –1 if ATR < (ATR_MA – stdev(ATR))
• 0 otherwise
Each of the four main categories shares this same +1/0/–1 logic across their sub-components.
B. Category Scores
Once each sub-indicator reports +1, 0, or –1, these are summed within their categories as follows:
• Trend Score = (ADX score) + (MA slope score) + (Ichimoku differential score)
• Momentum Score = (RSI score) + (Stochastic %K score) + (MACD histogram score)
• Price Action Score = (Highest-High/Lowest-Low score) + (Heikin-Ashi doji score) + (Candle range score)
• Market Activity Raw Score = (BBW score) + (ATR score) + (KC width score) + (Volume score)
Each category’s summed value can range between –3 and +3 (for Trend, Momentum, and Price Action), and between –4 and +4 for Market Activity raw.
C. Market Activity State and Dynamic Weight Adjustments
Rather than contributing directly to the netScore like the other three categories, Market Activity determines how much weight to assign to Trend, Momentum, and Price Action:
1. Compute Market Activity Raw Score by summing BBW, ATR, KCW, and Volume individual scores (each +1/0/–1).
2. Bucket into High, Medium, or Low Activity:
• High if raw Score ≥ 2 (volatile market).
• Low if raw Score ≤ –2 (calm market).
• Medium otherwise.
3. Apply Hysteresis (if enabled): The state only flips after two consecutive bars register the same high/low/medium label.
4. Set Category Weights:
• High Activity: Trend = 50 %, Momentum = 35 %, Price Action = 15 %.
• Low Activity: Trend = 25 %, Momentum = 20 %, Price Action = 55 %.
• Medium Activity: Use the trader’s base weight inputs (e.g., Trend = 40 %, Momentum = 30 %, Price Action = 30 % by default).
D. Calculating the Net Score
5. Normalize Base Weights (so that the sum of Trend + Momentum + Price Action always equals 100 %).
6. Determine Current Weights based on the Market Activity State (High/Medium/Low).
7. Compute Each Category’s Contribution: Multiply (categoryScore) × (currentWeight).
8. Sum Contributions to get the raw netScore (a floating-point value that can exceed ±3 when scores are strong).
9. Smooth the netScore over two bars (if smoothing is enabled) to reduce noise.
10. Apply Hysteresis to the Final Zone:
• If the smoothed netScore ≥ +2, the bar is classified as “Bullish.”
• If the smoothed netScore ≤ –2, the bar is classified as “Bearish.”
• Otherwise, it is “Sideways.”
• To prevent rapid flips, the script requires two consecutive bars in the new zone before officially changing the displayed zone (if hysteresis is on).
E. Thresholds for Zone Classification
• BULLISH: netScore ≥ +2
• BEARISH: netScore ≤ –2
• SIDEWAYS: –2 < netScore < +2
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7. Role of Volatility (Market Activity State) in Scoring
Volatility acts as a dynamic switch that shifts which category carries the most influence:
1. High Activity (Volatile):
• Detected when at least two sub-scores out of BBW, ATR, KCW, and Volume equal +1.
• The script sets Trend weight = 50 % and Momentum weight = 35 %. Price Action weight is minimized at 15 %.
• Rationale: In volatile markets, strong trending moves and momentum surges dominate, so those signals are more reliable than nuanced candle patterns.
2. Low Activity (Calm):
• Detected when at least two sub-scores out of BBW, ATR, KCW, and Volume equal –1.
• The script sets Price Action weight = 55 %, Trend = 25 %, and Momentum = 20 %.
• Rationale: In quiet, sideways markets, subtle price-action signals (breakouts, doji patterns, small-range candles) are often the best early indicators of a new move.
3. Medium Activity (Balanced):
• Raw Score between –1 and +1 from the four volatility metrics.
• Uses whatever base weights the trader has specified (e.g., Trend = 40 %, Momentum = 30 %, Price Action = 30 %).
Because volatility can fluctuate rapidly, the script employs hysteresis on Market Activity State: a new High or Low state must occur on two consecutive bars before weights actually shift. This avoids constant back-and-forth weight changes and provides more stability.
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8. Scoring Example (Hypothetical Scenario)
• Symbol: Bitcoin on a 1-hour chart.
• Market Activity: Raw volatility sub-scores show BBW (+1), ATR (+1), KCW (0), Volume (+1) → Total raw Score = +3 → High Activity.
• Weights Selected: Trend = 50 %, Momentum = 35 %, Price Action = 15 %.
• Trend Signals:
• ADX strong and +DI > –DI → +1
• Fast MA above Slow MA → +1
• Ichimoku Senkou A > Senkou B → +1
→ Trend Score = +3
• Momentum Signals:
• RSI above upper bound → +1
• MACD histogram positive → +1
• Stochastic %K within neutral zone → 0
→ Momentum Score = +2
• Price Action Signals:
• Highest High/Lowest Low check yields 0 (close not near extremes)
• Heikin-Ashi doji reading is neutral → 0
• Candle range slightly above upper bound but trend is strong, so → +1
→ Price Action Score = +1
• Compute Net Score (before smoothing):
• Trend contribution = 3 × 0.50 = 1.50
• Momentum contribution = 2 × 0.35 = 0.70
• Price Action contribution = 1 × 0.15 = 0.15
• Raw netScore = 1.50 + 0.70 + 0.15 = 2.35
• Since 2.35 ≥ +2 and hysteresis is met, the final zone is “Bullish.”
Although the netScore lands at 2.35 (Bullish), smoothing might bring it slightly below 2.00 on the first bar (e.g., 1.90), in which case the script would wait for a second consecutive reading above +2 before officially classifying the zone as Bullish (if hysteresis is enabled).
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9. Correlation Between Categories
The four categories—Trend Strength, Momentum, Price Action, and Market Activity—often reinforce or offset one another. The script takes advantage of these natural correlations:
• Bullish Alignment: If ADX is strong and pointed upward, fast MA is above slow MA, and Ichimoku is positive, that usually coincides with RSI climbing above its upper bound and the MACD histogram turning positive. In such cases, both Trend and Momentum categories generate +1 or +2. Because the Market Activity State is likely High (given the accompanying volatility), Trend and Momentum weights are at their peak, so the netScore quickly crosses into Bullish territory.
• Sideways/Consolidation: During a low-volatility, sideways phase, ADX may fall below its threshold, MAs may flatten, and RSI might hover in the neutral band. However, subtle price-action signals (like a small breakout candle or a Heikin-Ashi candle with a slight bias) can still produce a +1 in the Price Action category. If Market Activity is Low, Price Action’s weight (55 %) can carry enough influence—even if Trend and Momentum are neutral—to push the netScore out of “Sideways” into a mild bullish or bearish bias.
• Opposing Signals: When Trend is bullish but Momentum turns negative (for example, price continues up but RSI rolls over), the two scores can partially cancel. Market Activity may remain Medium, in which case the netScore lingers near zero (Sideways). The trader can then wait for either a clearer momentum shift or a fresh price-action breakout before committing.
By dynamically recognizing these correlations and adjusting weights, the indicator ensures that:
• When Trend and Momentum align (and volatility supports it), the netScore leaps strongly into Bullish or Bearish.
• When Trend is neutral but Price Action shows an early move in a low-volatility environment, Price Action’s extra weight in the Low Activity State can still produce actionable signals.
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10. Market Activity State & Its Role (Detailed)
The Market Activity State is not a direct category score—it is an overarching context setter for how heavily to trust Trend, Momentum, or Price Action. Here’s how it is derived and applied:
1. Calculate Four Volatility Sub-Scores:
• BBW: Compare the current band width to its own moving average ± standard deviation. If BBW > (BBW_MA + stdev), assign +1 (high volatility); if BBW < (BBW_MA × 0.5), assign –1 (low volatility); else 0.
• ATR: Compare ATR to its moving average ± standard deviation. A spike above the upper threshold is +1; a contraction below the lower threshold is –1; otherwise 0.
• KCW: Same logic as ATR but around the KCW mean.
• Volume: Compare current volume to its volume MA ± standard deviation. Above the upper threshold is +1; below the lower threshold is –1; else 0.
2. Sum Sub-Scores → Raw Market Activity Score: Range between –4 and +4.
3. Assign Market Activity State:
• High Activity: Raw Score ≥ +2 (at least two volatility metrics are strongly spiking).
• Low Activity: Raw Score ≤ –2 (at least two metrics signal unusually low volatility or thin volume).
• Medium Activity: Raw Score is between –1 and +1 inclusive.
4. Hysteresis for Stability:
• If hysteresis is enabled, a new state only takes hold after two consecutive bars confirm the same High, Medium, or Low label.
• This prevents the Market Activity State from bouncing around when volatility is on the fence.
5. Set Category Weights Based on Activity State:
• High Activity: Trend = 50 %, Momentum = 35 %, Price Action = 15 %.
• Low Activity: Trend = 25 %, Momentum = 20 %, Price Action = 55 %.
• Medium Activity: Use trader’s base weights (e.g., Trend = 40 %, Momentum = 30 %, Price Action = 30 %).
6. Impact on netScore: Because category scores (–3 to +3) multiply by these weights, High Activity amplifies the effect of strong Trend and Momentum scores; Low Activity amplifies the effect of Price Action.
7. Market Context Tooltip: The dashboard includes a tooltip summarizing the current state—e.g., “High activity, trend and momentum prioritized,” “Low activity, price action prioritized,” or “Balanced market, all categories considered.”
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11. Category Weights: Base vs. Dynamic
Traders begin by specifying base weights for Trend Strength, Momentum, and Price Action that sum to 100 %. These apply only when volatility is in the Medium band. Once volatility shifts:
• High Volatility Overrides:
• Trend jumps from its base (e.g., 40 %) to 50 %.
• Momentum jumps from its base (e.g., 30 %) to 35 %.
• Price Action is reduced to 15 %.
Example: If base weights were Trend = 40 %, Momentum = 30 %, Price Action = 30 %, then in High Activity they become 50/35/15. A Trend score of +3 now contributes 3 × 0.50 = +1.50 to netScore; a Momentum +2 contributes 2 × 0.35 = +0.70. In total, Trend + Momentum can easily push netScore above the +2 threshold on its own.
• Low Volatility Overrides:
• Price Action leaps from its base (30 %) to 55 %.
• Trend falls to 25 %, Momentum falls to 20 %.
Why? When markets are quiet, subtle candle breakouts, doji patterns, and small-range expansions tend to foreshadow the next swing more effectively than raw trend readings. A Price Action score of +3 in this state contributes 3 × 0.55 = +1.65, which can carry the netScore toward +2—even if Trend and Momentum are neutral or only mildly positive.
Because these weight shifts happen only after two consecutive bars confirm a High or Low state (if hysteresis is on), the indicator avoids constantly flipping its emphasis during borderline volatility phases.
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12. Dominant Category Explained
Within the dashboard, a label such as “Trend Dominant,” “Momentum Dominant,” or “Price Action Dominant” appears when one category’s absolute weighted contribution to netScore is the largest. Concretely:
• Compute each category’s weighted contribution = (raw category score) × (current weight).
• Compare the absolute values of those three contributions.
• The category with the highest absolute value is flagged as Dominant for that bar.
Why It Matters:
• Momentum Dominant: Indicates that the combined force of RSI, Stochastic, and MACD (after weighting) is pushing netScore farther than either Trend or Price Action. In practice, it means that short-term sentiment and speed of change are the primary drivers right now, so traders should watch for continued momentum signals before committing to a trade.
• Trend Dominant: Means ADX, MA slope, and Ichimoku (once weighted) outweigh the other categories. This suggests a strong directional move is in place; trend-following entries or confirming pullbacks are likely to succeed.
• Price Action Dominant: Occurs when breakout/breakdown patterns, Heikin-Ashi candle readings, and range expansions (after weighting) are the most influential. This often happens in calmer markets, where subtle shifts in candle structure can foreshadow bigger moves.
By explicitly calling out which category is carrying the most weight at any moment, the dashboard gives traders immediate insight into why the netScore is tilting toward bullish, bearish, or sideways.
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13. Oscillator Plot: How to Read It
The “Net Score” oscillator sits below the dashboard and visually displays the smoothed netScore as a line graph. Key features:
1. Value Range: In normal conditions it oscillates roughly between –3 and +3, but extreme confluences can push it outside that range.
2. Horizontal Threshold Lines:
• +2 Line (Bullish threshold)
• 0 Line (Neutral midline)
• –2 Line (Bearish threshold)
3. Zone Coloring:
• Green Background (Bullish Zone): When netScore ≥ +2.
• Red Background (Bearish Zone): When netScore ≤ –2.
• Gray Background (Sideways Zone): When –2 < netScore < +2.
4. Dynamic Line Color:
• The plotted netScore line itself is colored green in a Bullish Zone, red in a Bearish Zone, or gray in a Sideways Zone, creating an immediate visual cue.
Interpretation Tips:
• Crossing Above +2: Signals a strong enough combined trend/momentum/price-action reading to classify as Bullish. Many traders wait for a clear crossing plus a confirmation candle before entering a long position.
• Crossing Below –2: Indicates a strong Bearish signal. Traders may consider short or exit strategies.
• Rising Slope, Even Below +2: If netScore climbs steadily from neutral toward +2, it demonstrates building bullish momentum.
• Divergence: If price makes a higher high but the oscillator fails to reach a new high, it can warn of weakening momentum and a potential reversal.
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14. Comments and Their Necessity
Every sub-indicator (ADX, MA slope, Ichimoku, RSI, Stochastic, MACD, HH/LL, Heikin-Ashi, Candle Range, BBW, ATR, KCW, Volume) generates a short comment that appears in the detailed dashboard. Examples:
• “Strong bullish trend” or “Strong bearish trend” for ADX/DMI
• “Fast MA above slow MA” or “Fast MA below slow MA” for MA slope
• “RSI above dynamic threshold” or “RSI below dynamic threshold” for RSI
• “MACD histogram positive” or “MACD histogram negative” for MACD Hist
• “Price near highs” or “Price near lows” for HH/LL checks
• “Bullish Heikin Ashi” or “Bearish Heikin Ashi” for HA Doji scoring
• “Large range, trend confirmed” or “Small range, trend contradicted” for Candle Range
Additionally, the top-row comment for each category is:
• Trend: “Highly Bullish,” “Highly Bearish,” or “Neutral Trend.”
• Momentum: “Strong Momentum,” “Weak Momentum,” or “Neutral Momentum.”
• Price Action: “Bullish Action,” “Bearish Action,” or “Neutral Action.”
• Market Activity: “Volatile Market,” “Calm Market,” or “Stable Market.”
Reasons for These Comments:
• Transparency: Shows exactly how each sub-indicator contributed to its category score.
• Education: Helps traders learn why a category is labeled bullish, bearish, or neutral, building intuition over time.
• Customization: If, for example, the RSI comment says “RSI neutral” despite an impending trend shift, a trader might choose to adjust RSI length or thresholds.
In the detailed dashboard, hovering over each comment cell also reveals a tooltip with additional context (e.g., “Fast MA above slow MA” or “Senkou A above Senkou B”), helping traders understand the precise rule behind that +1, 0, or –1 assignment.
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15. Real-Life Example (Consolidated)
• Instrument & Timeframe: Bitcoin (BTCUSD), 1-hour chart.
• Current Market Activity: BBW and ATR both spike (+1 each), KCW is moderately high (+1), but volume is only neutral (0) → Raw Market Activity Score = +2 → State = High Activity (after two bars, if hysteresis is on).
• Category Weights Applied: Trend = 50 %, Momentum = 35 %, Price Action = 15 %.
• Trend Sub-Scores:
1. ADX = 25 (above threshold 20) with +DI > –DI → +1.
2. Fast MA (20-period) sits above Slow MA (50-period) → +1.
3. Ichimoku: Senkou A > Senkou B → +1.
→ Trend Score = +3.
• Momentum Sub-Scores:
4. RSI = 75 (above its moving average +1 stdev) → +1.
5. MACD histogram = +0.15 → +1.
6. Stochastic %K = 50 (mid-range) → 0.
→ Momentum Score = +2.
• Price Action Sub-Scores:
7. Price is not within 1 % of the 20-period high/low and slope = positive → 0.
8. Heikin-Ashi body is slightly larger than stdev over last 5 bars with haClose > haOpen → +1.
9. Candle range is just above its dynamic upper bound but trend is already captured, so → +1.
→ Price Action Score = +2.
• Calculate netScore (before smoothing):
• Trend contribution = 3 × 0.50 = 1.50
• Momentum contribution = 2 × 0.35 = 0.70
• Price Action contribution = 2 × 0.15 = 0.30
• Raw netScore = 1.50 + 0.70 + 0.30 = 2.50 → Immediately classified as Bullish.
• Oscillator & Dashboard Output:
• The oscillator line crosses above +2 and turns green.
• Dashboard displays:
• Trend Regime “BULLISH,” Trend Score = 3, Comment = “Highly Bullish.”
• Momentum Regime “BULLISH,” Momentum Score = 2, Comment = “Strong Momentum.”
• Price Action Regime “BULLISH,” Price Action Score = 2, Comment = “Bullish Action.”
• Market Activity State “High,” Comment = “Volatile Market.”
• Weights: Trend 50 %, Momentum 35 %, Price Action 15 %.
• Dominant Category: Trend (because 1.50 > 0.70 > 0.30).
• Overall Score: 2.50, posCount = (three +1s in Trend) + (two +1s in Momentum) + (two +1s in Price Action) = 7 bullish signals, negCount = 0.
• Final Zone = “BULLISH.”
• The trader sees that both Trend and Momentum are reinforcing each other under high volatility. They might wait one more candle for confirmation but already have strong evidence to consider a long.
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• .
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Disclaimer
This indicator is strictly a technical analysis tool and does not constitute financial advice. All trading involves risk, including potential loss of capital. Past performance is not indicative of future results. Traders should:
• Always backtest the “Market Zone Analyzer ” on their chosen symbols and timeframes before committing real capital.
• Combine this tool with sound risk management, position sizing, and, if possible, fundamental analysis.
• Understand that no indicator is foolproof; always be prepared for unexpected market moves.
Goodluck
-BullByte!
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Emperor RSI CandleDescription:
The Emperor RSI Candle is a real-time, non-lagging trading indicator that colors candles based on RSI (Relative Strength Index) levels. It offers instant visual feedback on market momentum, making it easy to identify trend strength, overbought/oversold zones, and potential reversals with precision.
Unlike traditional RSI indicators, which display RSI values in a separate panel, Emperor RSI Candle integrates RSI signals directly into the candles, providing a cleaner, more intuitive charting experience. Its multi-timeframe RSI box shows RSI values across different timeframes, offering confluence confirmation for better trade decisions.
🔥 Emperor RSI Candle is original because it includes a multi-timeframe RSI box that displays RSI values from:
1 min → Monthly timeframes simultaneously.
📊 How this is unique:
Traders can instantly compare RSI values across different timeframes.
This helps them spot confluence and divergences, which is not possible with standard RSI indicators.
The multi-timeframe confluence feature makes the indicator highly effective for both short-term and long-term traders.
🚀 What the script does:
Real-time candle coloring based on RSI levels.
Multi-timeframe RSI box for confluence insights.
Customizable RSI settings for adaptability.
How it benefits traders:
Instant visual feedback for momentum and reversals.
No lag signals for precise trading decisions.
Flexible customization for different trading styles.
Unique visual signals:
Green, red, parrot green, and blue candles → Clearly indicating bullish/bearish momentum and overbought/oversold zones.
Multi-timeframe RSI box → For cross-timeframe confluence.
⚡️ 🔥 UNIQUE FEATURES 🔥:
✅ Multi-Timeframe RSI Box:
Displays RSI values from 1 min to monthly timeframes, helping traders confirm confluence across different timeframes.
✅ Fully Customizable RSI Levels & Display:
Modify RSI thresholds, source, and appearance to fit your trading style.
✅ Dynamic Candle Borders for Weak Signals:
Green border → Weak bullishness (RSI between 50-60).
Red border → Weak bearishness (RSI between 40-50).
✅ Lag-Free, Real-Time Accuracy:
No repainting or delay—instant visual signals for accurate decisions.
✅ Scalable for Any Trading Style:
Perfect for both intraday scalping and positional trading.
📊 🔥 HOW IT WORKS 🔥:
The indicator dynamically colors candles based on RSI values, providing real-time visual signals:
🟢 Above 60 RSI → Green candle:
Indicates bullish momentum, signaling potential upward continuation.
🟩 Above 80 RSI → Parrot green candle:
Overbought zone → Possible reversal or profit booking.
🟥 Below 40 RSI → Red candle:
Signals bearish momentum, indicating potential downward continuation.
🔵 Below 20 RSI → Blue candle:
Oversold zone → Possible reversal opportunity.
🔲 Neutral candles:
50-60 RSI → Green border: Weak bullishness.
40-50 RSI → Red border: Weak bearishness.
📊 🔥 MULTI-TIMEFRAME RSI BOX 🔥:
The Emperor RSI Candle includes an RSI box displaying multi-timeframe RSI values from 1 min to monthly. This provides:
✅ Confluence confirmation:
Compare RSI across multiple timeframes to strengthen trade conviction.
✅ Spot divergences:
Identify hidden trends by comparing smaller and larger timeframes.
✅ Validate trade entries/exits:
Use higher timeframe RSI to confirm smaller timeframe signals
⚙️ 🔥 HOW TO USE IT 🔥:
To maximize the accuracy and clarity of Emperor RSI Candle, follow these steps:
🔧 STEP 1: Chart Settings Configuration
Go to Chart Settings → Symbols
Uncheck the following options:
Body
Borders
Wick
✅ This ensures that only the Emperor Candle colors are visible, making the signals clear and distinct.
🔧 STEP 2: Style Settings for Emperor Candle
After applying the Emperor RSI Candle:
Go to Settings → Style tab
Wick section:
Select Color 2 and Color 3 → Set Opacity to 100%.
Border section:
Select Color 2 and Color 3 → Set Opacity to 100%.
✅ This ensures the candles display with full visibility and accurate colors.
⚙️ 🔥 CUSTOMIZATION OPTIONS 🔥:
Emperor RSI Candle offers full flexibility to match your trading style:
✅ RSI Length:
Modify the period used for RSI calculation (default: 10).
✅ Top & Bottom Levels:
Adjust the overbought (default: 80) and oversold (default: 20) thresholds.
✅ Intermediate Levels:
Up Level: Default: 60 → Bullish RSI threshold.
Down Level: Default: 40 → Bearish RSI threshold.
Mid Level: Default: 50 → Neutral zone.
✅ RSI Source:
Select the price source for RSI calculation (Close, Open, High, Low).
✅ RSI Period:
Customize the RSI calculation period (default: 10).
✅ Font Size:
Adjust the RSI box font size for better visibility.
✅ Box Position:
Choose where to display the RSI box:
Top Left / Top Center / Top Right
Bottom Left / Bottom Center / Bottom Right
💡 🔥 HOW IT IMPROVES TRADING 🔥:
✅ Clear trend identification:
Instantly recognize bullish, bearish, or neutral conditions through candle colors.
✅ Precise entries and exits:
Spot overbought and oversold zones with visual clarity.
✅ Multi-timeframe confirmation:
Validate trades with RSI confluence across multiple timeframes.
✅ No lag, real-time accuracy:
Immediate visual signals for faster and more reliable trade decisions.
✅ Customizable settings:
Tailor the indicator to fit your trading strategy and preferences.
✅ Works for all trading styles:
Suitable for scalping, day trading, and swing trading.
🔥How Traders Can Use Emperor RSI Candle for Trading:
🟢 Green Candles (Above 60 RSI) → Bullish Momentum:
Indicates strong upward movement → Ideal for long entries.
Traders can hold until RSI approaches 80 for profit booking.
🟥 Red Candles (Below 40 RSI) → Bearish Momentum:
Signals strong downward movement → Ideal for short trades.
Traders can exit or book profits near RSI 20.
2. Spotting Overbought and Oversold Zones for Reversals:
🟩 Parrot Green Candles (Above 80 RSI) → Overbought Zone:
Indicates potential for reversals or profit booking.
Traders can tighten stop-losses or exit positions.
🔵 Blue Candles (Below 20 RSI) → Oversold Zone:
Signals a potential reversal opportunity.
Traders can look for buy signals with confluence confirmation.
3. Catching Weak Bullish and Bearish Trends with Border Colors:
🟢 Green Border (RSI 50-60) → Weak Bullishness:
Indicates mild upward momentum.
Traders can consider cautious long entries.
🔴 Red Border (RSI 40-50) → Weak Bearishness:
Indicates mild downward pressure.
Traders can consider cautious short entries.
4. Using the RSI Multi-Timeframe Box for Confluence:
✅ Displays RSI values from 1 min to monthly timeframes.
Usage:
Confluence confirmation:
Multiple timeframes showing bullish RSI → Strong uptrend → Reliable buy signals.
Multiple timeframes showing bearish RSI → Strong downtrend → Reliable sell signals.
Spotting divergences:
If lower timeframes are bullish but higher timeframes are bearish, it indicates a potential reversal.
5. Customization Tips for Different Trading Styles:
✅ For Scalping:
Use a smaller RSI period (9-10) for faster signals.
Check the multi-timeframe RSI box to confirm signals quickly.
✅ For Swing Trading:
Use the default RSI period (14-15) for more accurate signals.
Focus on higher timeframes (1 hr, 4 hr, daily) for stronger trend confirmation.
YinYang TrendTrend Analysis has always been an important aspect of Trading. There are so many important types of Trend Analysis and many times it may be difficult to identify what to use; let alone if an Indicator can/should be used in conjunction with another. For these exact reasons, we decided to make YinYang Trend. It is a Trend Analysis Toolkit which features many New and many Well Known Trend Analysis Indicators. However, everything in there is added specifically for the reason that it may work well in conjunction with the other Indicators prevalent within. You may be wondering, why bother including common Trend Analysis, why not make everything unique? Ideally, we would, however, you need to remember Trend Analysis may be one of the most common forms of charting. Therefore, many other traders may be using similar Trend Analysis either through plotting manually or within other Indicators. This all boils down to Psychology; you are trading against other traders, who may be seeing some of the similar information you are, and therefore, you may likewise want to see this information. What affects their trading decisions may affect yours as well.
Now enough about Trend Analysis, what is within this Indicator, and what does it do? Well, first let’s quickly mention all of its components, then we will, through a Tutorial, discuss each individually and finally how each comes together as a cohesive whole. This Indicator features many aspects:
Bull and Bear Signals
Take Profit Signals
Bull and Bear Zones
Information Tables displaying: (Boom Meter, Bull/Bear Strength, Yin/Yang State)
16 Cipher Signals
Extremes
Pivots
Trend Lines
Custom Bollinger Bands
Boom Meter Bar Colors
True Value Zones
Bar Strength Indexes
Volume Profile
There are many things to cover within our Tutorial so let's get started, chronologically from the list above.
Tutorial:
Bull and Bear Signals:
We’ve zoomed out quite a bit for this example to help give you a broader aspect of how these Bull and Bear signals work. When a signal appears, it is displaying that there may be a large amount of Bullish or Bearish Trend Analysis occurring. These signals will remain in their state of Bull or Bear until there is enough momentum change that they change over. There are a couple Options within the Settings that dictate when/where/why these signals appear, and this example is using their default Settings of ‘Medium’. They are, Purchase Speed and Purchase Strength. Purchase Speed refers to how much Price Movement is needed for a signal to occur and Purchase Strength refers to how many verifications are required for a signal to occur. For instance:
'High' uses 15 verifications to ensure signal strength.
'Medium' uses 10 verifications to ensure signal strength.
'Low' uses 5 verifications to ensure signal strength.
'Very Low' uses 3 verifications to ensure signal strength.
By default it is set to Medium (10 verifications). This means each verification is worth 10%. The verifications used are also relevant to the Purchase Speed; meaning they will be verified faster or slower depending on its speed setting. You may find that Faster Speeds and Lower Verifications may work better on Higher Time Frames; and Slower Speeds and Higher Verifications may work better on Lower Time Frames.
We will demonstrate a few examples as to how the Speed and Strength Settings work, and why it may be beneficial to adjust based on the Time Frame you’re on:
In this example above, we’ve kept the same Time Frame (1 Day), and scope; but we’ve changed Purchase Speed from Medium->Fast and Purchase Strength from Medium-Very Low. As you can see, it now generates quite a few more signals. The Speed and Strength settings that you use will likely be based on your trading style / strategy. Are you someone who likes to stay in trades longer or do you like to swing trade daily? Likewise, how do you go about identifying your Entry / Exit locations; do you start on the 1 Day for confirmation, then move to the 15/5 minute for your entry / exit? How you trade may determine which Speed and Strength settings work right for you. Let's jump to a lower Time Frame now so you can see how it works on the 15/5 minute.
Above is what BTC/USDT looks like on the 15 Minute Time Frame with Purchase Speed and Strength set to Medium. You may note that the signals require a certain amount of movement before they get started. This is normal with Medium and the amount of movement is generally dictated by the Time Frame. You may choose to use Medium on a Lower Time Frame as it may work well, but it may also be best to change it to a little slower.
We are still on the 15 Minute Time Frame here, however we simply changed Purchase Speed from Medium->Slow. As you can see, lots of the signals have been removed. Now signals may ‘hold their ground’ for much longer. It is important to adjust your Purchase Speed and Strength Settings to your Time Frame and personalized trading style accordingly.
Above we have now jumped down to the 5 Minute Time Frame. Our Purchase Speed is Slow and our Purchase Strength is Medium. We can see it looks pretty good, although there is some signal clustering going on in the middle there. If we change our Settings, we may be able to get rid of that.
We have changed our Purchase Speed from Slow->Snail (Slowest it can go) and Purchase Strength from Medium->Very Low (Lowest it can go). Changing it from Slow-Snail helped get rid of the signal clustering. You may be wondering why we lowered the Strength from Medium->Very Low, rather than going from Medium->High. This is a use case scenario and one you’ll need to decide for yourself, but we noticed when we changed the Speed from Slow->Snail that the signal clustering was gone, so then we checked both High and Very Low for Strengths to see which produced the best looking signal locations.
Please remember, you don’t have to use it the exact way we’ve displayed in this Tutorial. It is meant to be used to suit your Trading Style and Strategy. This is why we allow you to modify these settings, rather than just automating the change based on Time Frames. You’ll likely need to play around with it, as you’ll notice different settings may work better on certain pairs and Time Frames than others.
Take Profit Signals:
We’ve reset our Purchase Settings, everything is on defaults right now at Medium. We’ve enabled Take Profit signals. As you can see there are both Take Profit signals for the Bulls and the Bears. These signals are not meant to be used within automation. In fact, none of this indicator is. These signals are meant to show there has been a strong change in momentum, to such an extent that the signal may switch from its current (Bull or Bear) and now may be a good time to Take Profit. Your Take Profit Settings likewise has a Speed and Strength, and you can set them differently than your Purchase Settings. This is in case you want to Take Profit in a different manner than your Purchase Signals. For instance:
In the example above we’ve kept Purchase Strength and Speed at Medium but we changed our Take Profit Speed from Medium->Snail and our Take Profit Strength from medium->Very Low. This greatly reduces the amount of Take Profit signals, and in some cases, none are even produced. This form of Take Profit may act more as a Trailing Take Profit that if it’s not hit, nothing appears.
In this example we have changed our Purchase Speed from Medium->Fast, our Purchase Strength from Medium->Very Low. We’ve also changed our Take Profit Speed from Snail->Medium and kept our Take Profit Strength on Very Low. Now we may get our signals quicker and likewise our Take Profit may be more rare. There are many different ways you can set up your Purchase and Take Profit Settings to fit your Trading Style / Strategy.
Bull and Bear Zones:
We have disabled our Take Profit locations so that you can see the Bull and Bear Zones. These zones change color when the Signals switch. They may represent some strong Support and Resistance locations, but more importantly may be useful for visualizing changes in momentum and consolidation. These zones allow you to see various Moving Averages; and when they start to ‘fold’ (cross) each other you may see changes in momentum. Whereas, when they’re fully stretched out and moving all in the same direction, it can provide insight that the current rally may be strong. There is also the case where they look like they’re ‘twisted’ together. This happens when all of the Moving Averages are very close together and may be a sign of Consolidation. We will go over a few examples of each of these scenarios so you can understand what we’re referring to.
In this example above, there are a few different things happening. First we have the yellow circle, where the final and slowest Moving Average (MA) crossed over and now all of the MA’s that form the zone are Bullish. You can see this in the white circle where there are no MA’s that are crossing each other. Lastly, within the blue circle, we can see how some of the faster MA’s are crossing under each other. This is a bullish momentum change. The Faster moving MA’s will always be the first ones to cross before the Slower ones do. There is a color scheme in place here to represent the Speed of the MA within the Zone. Light blue is the fastest moving Bull color -> Light Green and finally -> Dark Green. Yellow is the fastest moving Bear color -> Orange and finally -> Red / Dark Red within the Zone.
Next we will review a couple different examples of what Consolidation looks like and why it is very important to look out for. Consolidation is when Most, if not All of the MA’s are very tightly ‘twisted’ together. There is very little spacing between almost all of the MA’s in the example above; highlighted by the white circle. Consolidation is important as it may indicate a strong price movement in either direction will occur soon. When the price is consolidating it means it has had very little upwards or downwards movement recently. When this happens for long enough, MA’s may all get very similar in value. This may cause high volatility as the price tries to break out of Consolidation. Let's look at another example.
Above we have two more examples of what Consolidation looks like and how high Volatility may occur after the Consolidation is broken. Please note, not all Consolidation will create high Volatility but it is something you may want to look out for.
Information Tables displaying: (Boom Meter, Bull/Bear Strength, Yin/Yang State):
Information tables are a very important way of displaying information. It contains 3 crucial pieces of information:
Boom Meter
Bull/Bear Strength
Yin/Yang State
Boom Meter is a meter that goes from 0-100% and displays whether the current price is Dumping (0 - 29%), Consolidating (30 - 70%) or Pumping (71 - 100%). The Boom Meter is meant to be a Gauge to how the price is currently fairing. It is composed of ~50 different calculations that all vary different weights to calculate its %. Many of the calculations it uses are likewise used in other things, such as the Bull/Bear Strength, Bull/Bear Zone MA cross’, Yin/Yang State, Market Cipher Signals, RSI, Volume and a few others. The Boom Meter, although not meant to be used solely to make purchase decisions, may give you a good idea of current market conditions considering how many different things it evaluates.
Bull/Bear Strength is relevant to your Purchase Speed and Strength. It displays which state it is currently in, and the % it is within that state. When a % hits 0, is when the state changes. When states change, they always start at 100% initially and will go down at the rate of Purchase Strength (how many verifications are needed). For instance, if your Purchase Strength is set to ‘Medium’ it will move 10% per verification +/-, if it is set to High, it will move 6.67% per verification +/-. Bull/Bear Strength is a good indicator of how well that current state is fairing. For instance if you started a Long when the state changed to Bull and now it is currently at Bull with 20% left, that may be a good indication it is time to get out (obviously refer to other data as well, but it may be a good way to know that the state is 20% away from transitioning to Bear).
Yin/Yang State is the strongest MA cross within our Indicator. It is unique in the sense that it is slow to change, but not so much that it moves slowly. It isn’t as simple as say a Golden/Death Cross (50/200), but it crosses more often and may hold similar weight as it. Yin stands for Negative (Bearish) and Yang stands for Positive (Bullish). The price will always be in either a state of Yin or Yang, and just because it is in one, doesn’t mean the price can’t/won’t move in the opposite direction; it simply means the price may be favoring the state it is in.
16 Cipher Signals:
Cipher Signals are key visuals of MA cross’ that may represent price movement and momentum. It would be too confusing and hard to decipher these MA’s as lines on a chart, and therefore we decided to use signals in the form of symbols instead. There are 12 Standard and 4 Predictive/Confirming Cipher signals. The Standard Cipher signals are composed of 6 Bullish and 6 Bearish (they all have opposites that balance each other out). There can never be 2 of the same signal in a row, as the Bull and Bear cancel each other out and it's always in a state of one or the other. When all 6 Bullish or Bearish signals appear in a row, very closely together, without any of the opposing signals it may represent a strong momentum movement is about to occur.
If you refer to the example above, you’ll see that the 6 Bullish Cipher signals appeared exactly as mentioned above. Shortly after the Green Circle appeared, there was a large spike in price movement in favor of the Bulls. Cipher signals don’t need to appear in a cluster exactly like the white circle in this photo for momentum to occur, but when it does, it may represent volatility more than if it is broken up with opposing signals or spaced out over a longer time span.
Above is an example of the opposite, where all 6 Bearish Cipher signals appeared together without being broken by a Bullish Cipher signal or being too far spaced out. As you can see, even though past it there was a few Bullish signals, they were quickly reversed back to Bearish before a large price movement occurred in favor of the Bears.
In the example above we’ve changed Cipher signals to Predictive and Confirming. Support Crosses (Green +) and Blood Diamonds (Red ♦) are the normal Cipher Signals that appear within the Standard Set. They are the first Cipher Signal that appears and are the most common ones as well. However, just because they are the first, that doesn’t mean they aren’t a powerful Cipher signal. For this reason, there are Predictive and Confirming Cipher signals for these. The Predictive do just that, they appear slightly sooner (if not the same bar) as the regular and the Confirming appear later (1+ bars usually). There will be times that the Predictive appears, but it doesn’t resort to the Regular appearing, or the Regular appears and the Confirming doesn’t. This is normal behavior and also the purpose of them. They are meant to be an indication of IF they may appear soon and IF the regular was indeed a valid signal.
Extremes:
Extremes are MA’s that have a very large length. They are useful for seeing Cross’ and Support and Resistance over a long period of time. However, because they are so long and slow moving, they might not always be relevant. It’s usually advised to turn them on, see if any are close to the current price point, and if they aren’t to turn them off. The main reason being is they stretch out the chart too much if they’re too far away and they also may not be relevant at that point.
When they are close to the price however, they may act as strong Support and Resistance locations as circled in the example above.
Pivots:
Pivots are used to help identify key Support and Resistance locations. They adjust on their own in an attempt to keep their locations as relevant as possible and likewise will adjust when the price pushes their current bounds. They may be useful for seeing when the Price is currently testing their level as this may represent Overbought or Oversold. Keep in mind, just because the price is testing their levels doesn’t mean it will correct; sometimes with high volatility or geopolitical news, movement may continue even if it is exhibiting Overbought or Oversold traits. Pivots may also be useful for seeing how far the price may correct to, giving you a benchmark for potential Take Profit and Stop Loss locations.
Trend Lines:
Trend Lines may be useful for identifying Support and Resistance locations on the Vertical. Trend Lines may form many different patterns, such as Pennants, Channels, Flags and Wedges. These formations may help predict and drive the price in specific directions. Many traders draw or use Indicators to help create Trend Lines to visualize where these formations will be and they may be very useful alone even for identifying possible Support and Resistance locations.
If you refer to the previous example, and now to this example, you’ll notice that the Trend Line that supported it in 2023 was actually created in June 2020 (yellow circle). Trend Lines may be crucial for identifying Support and Resistance locations on the Vertical that may withhold over time.
Custom Bollinger Bands:
Bollinger Bands are used to help see Movement vs Consolidation Zones (When it's wide vs narrow). It's also very useful for seeing where the correction areas may be. Price may bounce between top and bottom of the Bollinger Bands, unless in a pump or dump. The Boom Meter will show you whether it is currently: Dumping, Consolidation or Pumping. If combined with Boom Meter Bar Colors it may be a good indication if it will break the Bollinger Band (go outside of it). The Middle Line of the Bollinger Band (White Line) may be a very strong support / resistance location. If the price closes above or below it, it may be a good indication of the trend changing (it may indicate one of the first stages to a pump or dump). The color of the Bollinger Bands change based on if it is within a Bull or Bear Zone.
What makes this Bollinger Band special is not only that it uses a custom multiplier, but it also incorporates volume to help add weight to the calculation.
Boom Meter Bar Colors:
Boom Meter Bar Colors are a way to see potential Overbought and Oversold locations on a per bar basis. There are 6 different colors within the Boom Meter bar colors. You have:
Overbought and Very Bullish = Dark Green
Overbought and Slightly Bullish = Light Green
Overbought and Slight Bearish = Light Red
Oversold and Very Bearish = Dark Red
Oversold and Slightly Bearish = Orange
Oversold and Slightly Bullish = Light Purple
When there is no Boom Meter Bar Color prevalent there won’t be a color change within the bar at all.
Just because there is a Boom Meter Bar Color change doesn’t mean you should act on it purchase or sell wise, but it may be an indication as to how that bar is fairing in an Overbought / Oversold perspective. Boom Meter Bar Colors are mainly based on RSI but do take in other factors like price movement to determine if it is Overbought or Oversold. When it comes to Boom Meter Bar Color, you should take it as it is, in the sense that it may be useful for seeing how Individual bars are fairing, but also note that there may be things such as:
When there is Very Overbought (Dark Green) or Very Oversold (Dark Red), during massive pump or dumps, it will maintain this color. However, once it has lost ‘some’ momentum it will likely lose this color.
When there has been a massive Pump or Dump, and there is likewise a light purple or light red, this may mean there is a correction or consolidation incoming.
True Value Zones:
True Value zones are our custom way of displaying something that is similar to a Bollinger Band that can likewise twist like an MA cross. The main purpose of it is to display where the price may reside within. Much like a Bollinger Band it has its High and Low within its zone to specify this location. Since it has the ability to cross over and under, it has the ability to specify what it thinks may be a Bullish or Bearish zone. This zone uses its upper level to display what may be a Resistance location and its lower level to display what may be a Support location. These Support and Resistance locations are based on Momentum and will move with the price in an attempt to stay relevant.
You may use these True Values zones as a gauge of if the price is Overbought or Oversold. When the price faces high volatility and moves outside of the True Value Zones, it may face consolidation or likewise a correction to bring it back within these zones. These zones may act as a guideline towards where the price is currently valued at and may belong within.
Bar Strength Indexes:
Bar Strength Indexes are our way of ranking each bar in correlation to the last few. It is based on a few things but is highly influenced on Open/Close/High/Low, Volume and how the price has moved recently. They may attempt to ‘rate’ each bar and how Bullish/Bearish each of these bars are. The Green number under the bar is its Bullish % and the Red number above the bar is its Bearish %. These %’s will always equal 100% when combined together. Bar Strength Indexes may be useful for seeing when either Bullish or Bearish momentum is picking up or when there may be a reversal / consolidation.
These Bar Strength Indexes may allow you to decipher different states. If you refer to the example above, you may notice how based on how the numbers are changing, you may see when it has entered / exited Bullish, Bearish and Consolidation. Likewise, if you refer to the current bar (yellow circle), you can see that the Bullish % has dropped from 93 to 49; this may be signifying that the Bullish movement is losing momentum. You may use these changes in Bar Indexes as a guide to when to enter / end trades.
Volume Profile:
Volume Profile has been something that has been within TradingView for quite some time. It is a very useful way of seeing at what Horizontal Price there has been the most volume. This may be very useful for seeing not only Support and Resistance locations based on Volume, but also seeing where the majority of Limit Orders are placed. Limit Orders are where traders decide they want to either Buy / Sell but have the order placed so the trade won’t happen until the price reaches a certain amount. Either through many orders from many traders, or a single order from a ‘Whale’ (trader with a lot of capital); you may see Support and Resistance at specific Price Points that have large Volume.
Many Volume Profile Indicators feature a breakdown of all the different locations of volume, along with a Point Of Control (POC) line to designate where the most Volume has been. To try and reduce clutter within our already very saturated Toolkit Indicator, we’ve decided to strip our Volume Profile to only display this POC line. This may allow you to see where the crucial Volume Support and Resistance is without all of the clutter.
You may be wondering, well how important is this Volume Profile POC line and how do I go about using it? Aside from it being a gauge towards where Support and Resistance may be within Volume, it may also be useful for identifying good Long/Short locations. If you think of the line as a ‘Battle’ between the Bulls and Bears, they’re both fighting over that line. The Bears are wanting to break through it downwards, and the Bulls are wanting to break through it upwards. When one side has temporarily won this battle, this means they may have more Capital to push the price in their direction. For instance, if both the Bulls and the Bears are fighting over this POC price, that means the Bears think that price is a good spot to sell; however, the Bulls also deem that price to be a good point to buy. If the Bulls were to win this battle, that means the Bears either canceled their orders to reevaluate, or all of their orders have been completed from the Bulls buying them all. What may happen after that is, if the Bulls were able to purchase all of these Limit Sell Orders, then they may still have more Capital left to continue to pressure the price upwards. The same may be true for if the Bears were to win this ‘Battle’.
How to use YinYang Trend as a cohesive whole:
Hopefully you’ve read and understand how each aspect of this Indicator works on its own, as knowing how/what they each do is important to understanding how it is used as a cohesive whole. Due to the fact that this Toolkit of an Indicator displays so much data, you may find it easier to use and understand when you’re zoomed in a little, somewhat like we are in this example above.
If we refer to the example above, you may like us, deduce a few things:
1. The current price may be VERY Overbought. This may be seen by a few different things:
The Boom Meter Bar Colors have been exhibiting a Dark Green color for 6 bars in a row.
The price has continuously been moving the High (red) Pivot Upwards.
Our Boom Meter displays ‘Pumping’ at 100%.
The price broke through a Downward Trend Line that was created in February of 2022 at 45,000 like it was nothing.
The Bar Strength Index hit a Bullish value of 93%.
The Price broke out of the Bollinger Bands and continues to test its upper levels.
The Low is much greater than our fastest moving MA that creates the Purchase Zones.
The Price is vastly outside of the True Value Zone.
The Bar Strength Index of our current bar is 50% bullish, which is a massive decrease from the previous bar of 93%. This may indicate that a correction is coming soon.
2. Since we’ve identified the current price may be VERY Overbought, next we need to identify if/when/to where it may correct to:
We’ve created a new example here to display potential correction areas. There are a few places it has the ability to correct to / within:
The downward Trend Line (red) below the current bar sitting currently at 32,750. This downward Trend Line is at the same price point as the Fastest MA of our Purchase Zone which may provide some decent Support there.
Between two crucial Pivot heights, within a zone of 30,000 to 31,815. This zone has the second fastest MA from the Purchase Zone right near the middle of it at 31,200 which may act as a Support within the Zone. Likewise there is the Bollinger Band Basis which is also resting at 30,000 which may provide a strong Support location here.
If 30,000 fails there may be a correction all the way to the bottom of our True Value Zone and the top of one of our Extremes at 27,850.
If 27,850 fails it may correct all the way to the bottom of our Purchase Zone / lowest of our Extremes at 27,350.
If all of the above fails, it may test our Volume Profile POC of 26,430. If this POC fails, the trend may switch to Bearish and continue further down to lower levels of Support.
The price can always correct more than the prices mentioned above, but considering overall this Indicator is favoring the Bulls, we will tailor this analysis in Favor of the Bullish Momentum maintaining even during this correction. For these reasons, we think the price may correct between the 30,000 and 31,815 zone before continuing upwards and maintaining this Bullish Momentum.
Please note, these correction estimates are just that, they’re estimates. Aside from the fact that the price is very overbought right now and our Bar Strength Index may be declining (bar hasn’t closed yet); the Boom Meter Strength remains at 100%, meaning there may not be much Bearish momentum changes happening yet. We just want to show you how an Preemptive analysis may be done before there are even Bearish Cipher Signals appearing.
Using this Indicator, you may be able to decipher Entry and Exits. In the previous example, we went over how you may use it to see where a correction (Exit / Take Profit) may be and how far this correction may go. In this example above we will be discussing how to identify Entry locations. We will be discussing a Bullish Buy entry but the same rules apply for a Bearish Sell Entry just the opposite with the Cipher Signals.
If you refer to where we circled in white, this is where the Purchase Zones faced Consolidation. When the Purchase Zones all get tight and close together like that, this may represent Volatility and Momentum in either direction may occur soon.
This was then followed by all 6 of the Standard Cipher Signals closely in succession to each other. This means the Momentum may be favoring the Bulls. If this was likewise all 6 of the Bearish Cipher Signals closely in succession, than the momentum change would favor the Bears.
If you were looking for an entry, and you saw Consolidation with the Purchase Zones and then shortly after you saw the Green Circle and Blue Flag (they can swap order); this may now be a good Entry location.
We will conclude this Tutorial here. Hopefully this has taught you how this Trend Analysis Toolkit may help you locate multiple different types of important Support and Resistance locations; as well as possible Entry and Exit locations.
Settings:
1. Bull/Bear Zones:
1.1. Purchase Speed (Bull/Bear Signals and Take Profit Signals):
Speed determines how much price movement is needed for a signal to occur.
'Sonic' uses the extremities to try and get you the best entry and exit points, but is so quick, its speed may reduce accuracy.
'Fast' may attempt to capitalize on price movements to help you get SOME or attempt to lose LITTLE quickly.
'Medium' may attempt to get you the most optimal entry and exit locations, but may miss extremities.
'Slow' may stay in trades until it is clear that momentum has changed.
'Snail' may stay in trades even if momentum has changed. Snail may only change when the price has moved significantly (This may result in BIG gains, but potentially also BIG losses).
1.2. Purchase Strength (Bull/Bear Signals and Take Profit Signals):
Strength ensures a certain amount of verifications required for signals to happen. The more verifications the more accurate that signal is, but it may also change entry and exit points, and you may miss out on some of the extremities. It is highly advised to find the best combination between Speed and Strength for the TimeFrame and Pair you are trading in, as all pairs and TimeFrames move differently.
'High' uses 15 verifications to ensure signal strength.
'Medium' uses 10 verifications to ensure signal strength.
'Low' uses 5 verifications to ensure signal strength.
'Very Low' uses 3 verifications to ensure signal strength.
2. Cipher Signals:
Cipher Signals are very strong EMA and SMA crosses, which may drastically help visualize movement and help you to predict where the price will go. All Symbols have counter opposites that cancel each other out (YinYang). Here is a list, in order of general appearance and strength:
White Cross / Diamond (Predictive): The initial indicator showing trend movement.
Green Cross / Diamond (Regular): Confirms the Predictive and may add a fair bit of strength to trend movement.
Blue Cross / Diamond (Confirming): Confirms the Regular, showing the trend might have some decent momentum now.
Green / Red X: Gives momentum to the current trend direction, possibly confirming the Confirming Cross/Diamond.
Blue / Orange Triangle: may confirm the X, Possible pump / dump of decent size may be coming soon.
Green / Red Circle: EITHER confirms the Triangle and may mean big pump / dump is potentially coming, OR it just hit its peak and signifies a potential reversal correction. PAY ATTENTION!
Green / Red Flag: Oddball that helps confirm trend movements on the short term.
Blue / Yellow Flag: Oddball that helps confirm trend movements on the medium term (Yin / Yang is the long term Oddball).
3. Bull/Bear Signals:
Bear and Bull signals are where the momentum has changed enough based on your Purchase Speed and Strength. They generally represent strong price movement in the direction of the signal, and may be more reliable on higher TimeFrames. Please don’t use JUST these signals for analysis, they are only meant to be a fraction of the important data you are using to make your technical analysis.
4. Take Profit Signals:
Take Profit signals are guidelines that momentum has started to change back and now may be a good time to take profit. Your Take Profit signals are based on your Take Profit Speed and Strength and may be adjusted to fit your trading style.
5. Information Tables:
Information tables display very important data and help to declutter the screen as they are much less intrusive compared to labels. Our Information tables display: Boom Meter, Purchase Strength of Bull/Bear Zones and Yin/Yang State.
Boom Meter: Uses over 50 different calculations to determine if the pair is currently 'Dumping' (0-29%), 'Consolidating' (30-70%), or 'Pumping' (71-100%).
Bull / Bear Strength: Shows the strength of the current Bull / Bear signal from 0-100% (Signals start at 100% and change when they hit 0%). The % it moves up or down is based on your 'Purchase Strength'.
Yin / Yang state: Is one of the strongest EMA/SMA crosses (long term Oddball) within this Indicator and may be a great indication of which way the price is moving. Do keep in mind if the price is consolidating when changing state, it may have the highest chance of switching back also. Once momentum kicks in and there is price movement the state may be confirmed. Refer to other Cipher Symbols, Extremes, Trend, BOLL, Boom %, Bull / Bear % and Bar colors when Bull / Bear Zones are consolidating and Yin / Yang State changes as this is a very strong indecision zone.
6. Bull / Bear Zones:
Our Bull / Bear zones are composed of 8 very important EMA lengths that may act as not only Support and Resistance, but they help to potentially display consolidation and momentum change. You can tell when they are getting tight and close together it may represent consolidation and when they start to flip over on each other it may represent a change in momentum.
7. MA Extremes:
Our MA Extremes may be 3 of the most important long term moving averages. They don’t always play a role in trades as sometimes they’re way off from the price (cause they’re extreme lengths), but when they are around price or they cross under or over each other, it may represent large changes in price are about to occur. They may be very useful for seeing strong resistance / support locations based on price averages. Extremes may transition from a Support to a Resistance based on its position above or below them and how many times the price has either bounced up off them (Supporting) or Bounced back down after hitting them (Resistance).
8. Pivots:
Pivots may be a very important indicator of support and resistance for horizontal price movement. Pivots may represent the current strongest Support and Resistance. When the Pivot changes, it means a new strong Support or Resistance has been created. Sometimes you'll notice the price constantly pushes the pivot during a massive Pump or Dump. This is normal, and may indicate high levels of volatility. This generally also happens when the price is outside of the Bollinger Bands and is also Over or Undervalued. The price usually consolidates for a while after something like this happens before more drastic movement may occur.
9. Trend Lines:
Trend lines may be one of the best indicators of support and resistance for diagonal price movement. When a Trend Line fails to hold it may be a strong indication of a dump. Keep a close eye to where Upward and Downward Trend Lines meet. Trend lines can create different trading formations known as Pennants, Flags and Wedges. Please familiarize yourself with these formations So you know what to look for.
10. Bollinger Bands (BOLL):
Bollinger Bands may be very useful, and ours have been customized so they may be even more accurate by using a modified calculation that also incorporates volume.
Bollinger Bands may be used to see Movement vs Consolidation Zones (When it’s wide vs narrow). It also may be very useful for seeing where the correction areas are likely to be. Price may bounce between top and bottom of the BOLL, unless perhaps in a pump or dump. The Boom Meter may show you whether it is currently: Dumping, Consolidation or Pumping, along with Boom Meter Bar Colors, may be a good indication if it will break the BOLL. The Middle Line of the BOLL (White Line) may be a very strong support / resistance line. If the price closes above or below it, it may be a good indication of the trend changing (it may be one of the first stages to a pump or dump).
11. Boom Meter Bar Colors:
Boom Meter bar colors may be very useful for seeing when the bar is Overbought or Underbought. There are 6 different types of boom meter bar colors, they are:
Dark Green: RSI may be very Overbought and price going UP (May be in a big pump. NOTICE, chance of small dump correction if Cherry Red bar appears).
Light Green: RSI may be slightly Overbought and price going UP (chance of small pump).
Light Purple: RSI may be very Underbought and price going UP (May have chance of small correction).
Dark Red: RSI may be very Underbought and price going DOWN (May be in a big dump. NOTICE, chance of small pump correction if Light Purple bar appears).
Light Orange: RSI may be slightly Underbought and price going DOWN (chance of small dump).
Cherry Red: RSI may be very Overbought and price going DOWN (Chance of small correction).
12. True Value Zone:
True Value Zones display zones that represent ranges to show what the price may truly belong within. They may be very useful for knowing if the Price is currently not valued correctly, which generally means a correction may happen soon. True Value Zones can swap from Bullish to Bearish and are represented by Red for Bearish and Green for Bullish. For example, if the price is ABOVE and OUTSIDE of the True Value Zone, this means it may be very overvalued and might correct to go back inside the True Value Zone. This correction may be done by either dumping in price back into the zone, or consolidating horizontally back into it over a longer period of time. Vice Versa is also true if it is BELOW and OUTSIDE of the True Value Zone.
13. Bar Strength Index:
Bar Strength Index may display how Bullish/Bearish the current bar is. The strength is important to help see if a pump may be losing momentum or vice versa if a dump may correct. Keep in mind, the Bar Strength Index does a small 'refresh' to account for new bars. It may help to keep the Index more accurate.
14. Volume Profile:
Volume Profiles may be important to know where the Horizontal Support/Resistance is in Price base on Volume. Our Volume Profile may identify the point where the most volume has occurred within the most relevant timeframe. Volume Profiles are helpful at identifying where Whales have their orders placed. The reason why they are so helpful at identifying whales is when the volume is profiled to a specific area, there may likely be lots of Limit Buy and/or Sells around there. Limit Buys may act as Support and Limit Sells may act as Resistance. It may be very useful to know where these lie within the price, similar to looking at Order Book Data for Whale locations.
If you have any questions, comments, ideas or concerns please don't hesitate to contact us.
HAPPY TRADING!
