Open Interest (OI) Delta [UAlgo]The Open Interest (OI) Delta indicator is a tool designed to provide insights into the dynamics of Open Interest changes within the futures market. Open Interest (OI) refers to the total number of outstanding derivative contracts, such as options or futures, that have not been settled. The OI Delta measures the change in Open Interest over a specified period, allowing traders to assess whether new money is entering the market or existing positions are being closed.
This indicator offers two distinct display modes to visualize OI Delta, along with customizable levels that help in categorizing the magnitude of OI changes. Additionally, it provides the option to color-code the bars on the price chart based on the intensity and direction of OI Delta, making it easier for traders to interpret market sentiment and potential future price movements.
🔶 Key Features
Two Display Modes: Choose between two different modes for visualizing OI Delta, depending on your analysis preferences:
Mode 1: Displays the OI Delta directly as positive or negative values.
Mode 2: Separates positive and negative OI Delta values, displaying them as absolute values for easier comparison.
Customizable Levels: Set up to four levels of OI Delta magnitude, each with customizable thresholds and colors. These levels help categorize the OI changes into Normal, Medium, Large, and Extreme ranges, allowing for a more nuanced interpretation of market activity.
MA Length and Standard Deviation Period: Adjust the moving average length and standard deviation period for OI Delta, which smooths out the data and helps in identifying significant deviations from the norm.
Color-Coded Bar Chart: Optionally color the price bars on your chart based on the OI Delta levels, helping to visually correlate price action with changes in Open Interest.
Heatmap Display: Toggle the display of OI Delta levels on the chart, with the option to fill the areas between these levels for a more visually intuitive understanding of the data.
🔶 Interpreting Indicator
Positive vs. Negative OI Delta:
A positive OI Delta indicates that the Open Interest is increasing, suggesting that new contracts are being created, which could imply fresh capital entering the market.
A negative OI Delta suggests that Open Interest is decreasing, indicating that contracts are being closed out or settled, which might reflect profit-taking or a reduction in market interest.
Magnitude Levels:
Level 1 (Normal OI Δ): Represents typical, less significant changes in OI. If the OI Delta stays within this range, it may indicate routine market activity without any substantial shift in sentiment.
Level 2 (Medium OI Δ): Reflects a more significant change in OI, suggesting increased market interest and possibly the beginning of a new trend or phase of market participation.
Level 3 (Large OI Δ): Indicates a strong change in OI, often associated with a decisive move in the market. This could signify strong conviction among market participants, either bullish or bearish.
Level 4 (Extreme OI Δ): The highest level of OI change, often preceding major market moves. Extreme OI Δ can be a signal of potential market reversals or the final phase of a strong trend.
Color-Coded Bars:
When enabled, the color of the price bars will reflect the magnitude and direction of the OI Delta. This visual aid helps in quickly assessing the correlation between price movements and changes in market sentiment as indicated by OI.
This indicator is particularly useful for futures traders looking to gauge the strength and direction of market sentiment by analyzing changes in Open Interest. By combining this with price action, traders can gain a deeper understanding of market dynamics and make more informed trading decisions
🔶 Disclaimer
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
Cari dalam skrip untuk "heatmap"
[LCS] Bar HeatmapThe script is an overlay aimed at making price action within a range more comprehensible, i.e. what is the “story” that the band range is telling in relation to the price. You’ll see bars become brighter as they come near the upper or lower band, and dimmer around the average/middle of the two bands. This makes it easier to spot when the price is within an oversold or overbought area or when its experiencing a strong trend movement. The color shift from one to the other can also give a sense as to whether the price action is changing character (going from bullish to bearish or vice versa).
Settings are available for customization to the user's liking.
How to use:
1. Add the indicator.
2. Add another indicator to use as the source, such as Bollinger Bands, which provides upper and lower plots for a channel range.
3. Click the gear icon to access the indicator settings.
4. Mandatory: Select the Upper Band and Lower Band settings as the upper and lower plots from your source indicator of choice to define the range.
5. Save settings. You should now see bars on your chart.
6. Access the Chart Settings (not the indicator settings) and hide the Body, Borders, and Wick for the default candle bars to avoid overlap.
You may need to perform additional configuration steps in your source indicator to appropriately size the range of the upper and lower band plots for a meaningful visualization.
Ticker Screener by Volume Heatmap [SS]Fun little screener that creates a heatmap by daily volume trend.
The numbers expressed are the Sell to Buy ratio (Selling volume / buying volume). The % is the % change over the lookback period.
The default lookback period is 25 days, but you can adjust it as you see fit. The brightness of the green and red will change based on the extent of buying / selling.
Anything 1 or over means there is a lot of selling. A percent change in the negatives is good, it means that selling is decreasing and buying is increasing. Vice versa for a percent change in the positives.
It will accomodate up to 12 tickers, there are some pre-set but you can obviously customize it with your own tickers of interest.
And that's pretty much the indicator, pretty simple indicator but I hope you enjoy!
Safe trades everyone!
Ticker Correlation Matrix Table and Heatmap [SS]Hello everyone,
I am in the process of releasing some of my own utility indicators/things I use to reference and perform analyses.
I do a lot of quantitative/math based analyses, including correlation assessments that I traditionally would need to export data from Tradingview and perform in SPSS, Excel or R. I have been slowly building a repertoire of Excel/R functionality right on pinescript so I do not need to constantly export data and can perform the assessments right on Tradingview.
This is an example of such an indicator.
About the Indicator:
It is a correlation table/matrix indicator. It will allow up to 10 ticker inputs, which can be stocks, economic data, anything available on Tradingview, and it will perform a correlation assessment in a matrix / heatmap style.
The indicator will show the various correlations among all of the selected ticker inputs and will colour them based on correlation strength and type.
Strong negative correlations will appear bright red.
Strong positive correlations will appear bright green.
Complete absence of correlation (i.e. 0) will show bright orange.
The rest will show a darker shade to indicate less strength/correlation.
Calculation Functions
In addition to outputting a correlation matrix, the indicator is also able to express the relationship between tickers in a linear expression using the y = mx + b formula.
If we look at table, we can see that MSFT and AAPL have a significantly strong correlation of 0.82.
If we wanted to express this relationship mathmatically, we can ask the indicator to represent the linear relationship in our y = mx + b format. We simply toggle to our menu and select the Convert From MSFT (Ticker 2) and convert to APPL (Ticker 3):
When we select this, a new table will populate below and give you the expression as well as the amount of error associated with it:
In this case, we can see that the equation is y = 0.553x + 0.626 with a range of around 10 points in either direction.
This means that, to convert MSFT to AAPL, we would multiply the MSFT price by 0.553 and then add 0.626. So if we try it, MSFT closed at 328.41. So we substitute:
AAPL price = 0.553(328.41) + 0.626
AAPL price = 181.61 + 0.626
AAPL Price = 182.24 +/- 10
AAPL actually closed at 184.12. So pretty good. If we try another, let's do SPY to XLF:
So we substitute, SPY closed at 449.16.
XLF Price = 449.16(0.077) + 0.084
XLF price = 34.59 + 0.084
XLF price = 34.67
XLF actually closed at 34.49.
This is handy if you want to see how one stock price may affect another. If you are long on one stock and short on another, you can use this to determine what the likely outcome may be for the alternative stock. However, I recommend only performing this on tickers that have a relationship of 0.7 or higher, or a relationship of -0.7 or lower.
I always had to use SPSS to do this, so being able to do this right in Pinescript for me is a huge convenience!
Some other uses:
As I tend to post educational stuff on Tradingview and I frequently use correlation matrices, I have formatted the indicator to be more aesthetically pleasing for these purposes. Thus, you can unselect extra ticker slots that you do not need. IF I only need to display 3 tickers, I can unselect tickers 4 - 10. The end result is a cleaner table:
Essential Functions:
The assessment length is defaulted to 75 candles on the daily timeframe. Be sure to have the daily timeframe opened when you are viewing the indicator.
You can increase or decrease the assessment length as you desire.
You can also specify the source. The source is defaulted to close, but if you want to see the direct correlation of ticker's highs and/or lows, you can modify the source input in the settings menu to look at this.
Just remember to have the chart opened to whatever timeframe you are looking at.
And that's the indicator! Hopefully you find it helpful. Its more of an academic indicator, but it is performing a function that I personally use frequently in analyses, so I hope you may also benefit from it as well!
Thanks for checking it out! Safe trades everyone!
Liquidity Heatmap [BigBeluga]The Liquidity Heatmap is an indicator designed to spot possible resting liquidity or potential stop loss using volume or Open interest.
The Open interest is the total number of outstanding derivative contracts for an asset—such as options or futures—that have not been settled. Open interest keeps track of every open position in a particular contract rather than tracking the total volume traded.
The Volume is the total quantity of shares or contracts traded for the current timeframe.
🔶 HOW IT WORKS
Based on the user choice between Volume or OI, the idea is the same for both.
On each candle, we add the data (volume or OI) below or above (long or short) that should be the hypothetical liquidation levels; More color of the liquidity level = more reaction when the price goes through it.
Gradient color is calculated between an average of 2 points that the user can select. For example: 500, and the script will take the average of the highest data between 500 and 250 (half of the user's choice), and the gradient will be based on that.
If we take volume as an example, a big volume spike will mean a lot of long or short activity in that candle. A liquidity level will be displayed below/above the set leverage (4.5 = 20x leverage as an example) so when the price revisits that zone, all the 20x leverage should be liquidated.
Huge volume = a lot of activity
Huge OI = a lot of positions opened
More volume / OI will result in a stronger color that will generate a stronger reaction.
🔶 ROUTE
Here's an example of a route for long liquidity:
Enable the filter = consider only green candles.
Set the leverage to 4.5 (20x).
Choose Data = Volume.
Process:
A green candle is formed.
A liquidity level is established.
The level is placed below to simulate the 20x leverage.
Color is applied, considering the average volume within the chosen area.
Route completed.
🔶 FEATURE
Possibility to change the color of both long and short liquidity
Manual opacity value
Manual opacity average
Leverage
Autopilot - set a good average automatically of the opacity value
Enable both long or short liquidity visualization
Filtering - grab only red/green candle of the corresponding side or grab every candle
Data - nzVolume - Volume - nzOI - OI
🔶 TIPS
Since the limit of the line is 500, it's best to plot 2 scripts: one with only long and another with only short.
🔶 CONCLUSION
The liquidity levels are an interesting way to think about possible levels, and those are not real levels.
RSI HeatmapRSI Heatmap right on your chart. Cold and Hot areas means oversold and overbought cycles respectly.
Correlation Matrix + Heatmap - By LeviathanA quick and easy way to visualize the correlation between 10 different symbols over a custom period of time, in the form of a matrix with a heatmap visualization and additional tools such as price increase/decrease %, multi-timeframe function, customizable appearance and more.
The indicator displays correlation coefficients for each pair of 10 assets in a matrix format, where the rows and columns represent the assets being compared between each other. The color of each cell corresponds with the strength of the correlation coefficient, allowing you to quickly identify which assets are strongly correlated, and which are not, and use that information to adjust risk or even get trade ideas. Coupled with the "Price Change" function, the script will help you find trade opportunities based on eg. the long-term correlation strength and short-term price direction differences between two assets. The "Correlation Length" input defines the number of bars used for calculating the correlation, while "Price Change Length" defines the bar to which the current price is compared when calculating price change (eg. the input 20 means that the script will compare the price of the candle close that occurred 20 bars ago and the current price).
Correlation coefficient:
The correlation coefficient is a statistical measure that quantifies the degree of linear relationship between two variables. The correlation coefficient ranges from -1 to 1, with 1 being perfect positive correlation and -1 being perfect negative correlation.
• A correlation coefficient of 1 indicates a perfect positive linear relationship between two variables. This means that when one variable increases, the other variable also increases in a proportional manner.
• A correlation coefficient of 0 indicates no linear relationship between two variables. This means that changes in one variable do not affect the other variable.
• A correlation coefficient of -1 indicates a perfect negative linear relationship between two variables. This means that when one variable increases, the other variable decreases in a proportional manner.
Inspired by @RicardoSantos's script
Morningstar Equity Style Box HeatmapStyle boxes are a classification scheme created by Morningstar. They visually provide a graphical representation of investing categories for equity investments. A style box is a valuable tool for investors to use when determining asset allocation.
There are 9 categories:
Large Value, Large Blend, Large Growth
Medium Value, Medium Blend, Medium Growth
Small Value, Small Blend, Small Growth
The strength of the 9 categories are found by using 9 Vanguard ETF's that follow the respective CRSP index of their category.
Williams Alligator Trend Filter HeatmapHello I've decided that the alligator lines can be used to find a trend. This script expands on that and checks 10 different multipliers to see trend over the long term and have 10 values. Those 10 values each give a color to one of the 10 lines in turn giving this Fire like plotting. I personaly use this to see if there is fear (red) in the markets or greed (blue), plotted 9 different crypto coins on the chart and have 4 columns in my setup to see the values on different timeframes. In the chart preview this is 1H,30M,10M,1M to see current environment. The colors use alot of data to generate especialy the bottom part, that colors based on a very long time zone.
Weekly Volume HeatmapThis tool is designed to visualize how the trading volume of each asset changes during the week.
How to use
This tool can help us better understand the market and answer many questions, such as:
◽ How to avoid getting stop hunted?
Typically, trading volume decreases at certain times of the week, which is the best time for large holders to manipulate the market. Low volume means there is less liquidity in the market. Large transactions in an illiquid market can cause large price changes.
Large holders (whales) have enough capital to push the price in the desired direction to trigger a cascade of stop-loss orders which can move the price further.
After a stop hunt, the market typically reverses, leaving stop hunted traders behind.
It is best to avoid using stop-loss orders and leveraged trading during these hours of the week.
◽ When’s the best time to make decisions
During some hours of the week the trading volume usually decreases; at these times, most traders are inactive and do not participate in transactions.
Therefore, the price changes that occur during these times lack conviction.
It is better to make decisions when there are more active traders in the market. At these periods, a relatively high trading volume is usually observed.
How it works
First, it calculates the average traded volume of each period (for example Monday 9:00 AM) from the first bar to the last bar. It then calculates the ratio of the average traded volume in each period to the average traded volume per week. Finally, the result is displayed as a percentage in each cell.
Different values are distinguished by different background colors. Light colors are used for low values and dark colors are used for high values.
Limits
It only works in the 1 hour time frame.
Samples
Stock => AAPL
Futures => ES1!
Forex => EURUSD
Volume Profile HeatmapA variation of a Volume Profile based on code originally by LuxAlgo. () The traditional bar chart is replaced with full-width bars that are brighter for high volume price levels.
Like a traditional VP, its purpose is to visualize how volume corresponds to specific price levels, allowing you to get a quick idea of where the most activity is occurring, and where it hasn't been. This information may provide clues as to where price action may return, areas of support and resistance , and regions where price may move quickly. The basic concepts behind any Volume Profile (or Price by Volume Chart) should apply here as well. (investopedia article)
Inputs are set up such that you can customize the lookback period, number of rows, and width of rows for most major timeframes individually. Timeframes between those available will use the next lower timeframe settings (e.g., 2m chart will use the 1m settings.)
This indicator is experimental and is likely to receive further updates.
Volume Zones Multi-Timeframe OverlayAt its core, this indicator is a variation of my other indicator, Welkin Advanced Volume Overlay (for VSA )
This version is based on the power of multi-timeframe analysis. The basic functionality is simple: Plot lines from the high and low of candles formed during periods of high volume and fill the space between them. The volume levels for deciding what counts as "high volume" are based on standard deviations of the volume's SMA , and the higher the volume , the brighter the zone. i.e., a volume zone set by a volume level that is 4 standard deviations higher than average will be more "filled in" and less transparent than a volume zone from a 2 standard deviation candle.
These zones tend to act as areas of congestion, and the "ceilings" and "floors" of the zones as support and resistance . Overlapping zones tend to indicate strength and are likely to require more effort to get through. The more timeframes that agree with each other, the stronger the zone, ceiling, or floor.
By default, these zones are drawn based on the chart's timeframe and 1 timeframe higher, automatically set based on some "standard" values:
1m -> 5m
5m -> 15m
10m -> 30m
15m -> 60m
30m -> 60m
60m -> 1d
1d -> 1w
Finally, both the base timeframe and the higher timeframe are customizable; this is intended to make it easy to "double" up copies of the indicator to fit even more timeframes on the chart, creating a sort of heatmap for volume price analysis.
An example of three copies of the indicator, showing volume zones from 6 different timeframes.
Simple Watchlist with % Change Screener & AlertsHi fellow traders..
TV has generously increased the number of alerts!!
A Simple Watchlist with heatmap based on % change on daily timeframe.
Gives % change and RSI
you can set the percentage in the input box and then set alerts on your favorite watchlist.
Alerts also include days high and low..
Simple Table and array based code.
set for scrip close >10 can be easily changed in line 43..
Hope you Like it!
3D Wave-PMThe Wave-PM (Whistler Active Volatility Energy - Price Mass) indicator is an oscillator described in Mark Whistler's book 'Volatility Illuminated'.
The Wave-PM was specifically designed to help read cycles of volatility. When visualizing volatility cycles as a heatmap we can get a clear overview of market volatility phases on multiple timeframes, and more importantly as traders give us insight into 'potential' volatility from to pent up energy signaled by the blue and green plumes which invariably give way to big moves signaled by the orange and red plumes.
This indicator can be quite GPU intensive, so simple and also line based visualization methods are included. Also, its free and open source so go ahead and hack it to your hearts content. Enjoy!
Jigga - Heatmap ComparisionHi All,
I always have a question on how to know which sector is performing. I have created this Heatmap comparison to know strength of sector.
I have used RSI and MACD calculation and put it across 5 different index. Color shows bullishness and Gray shows weakness.
You can select RSI or MACD or Both to have calculation. And you can also compare stocks if you want.
Note: Use it for Medium / Long term investment. Can not be use for Intraday.
Happy investing !!
VolumeHeatmap | Experimental Version of Marketorders MatrixDear all,
I wish a Happy New Year!
The last time I tried to developing a Volume Heatmap, that the Marketorders made.
With the currently version I achieve my skills for that and I present it for everyone - some bugs I cannot solve today.
It also possible to see the POC - also the dynamic of volume developing:
The background for that is to find the pricelevel with the most volume - this is for valuetrading always the target.
If someone find it useful or have question - let me know!
Kind regards
NXT2017
200 Week Moving Average HeatmapСolors part of the SMA depending on the change in % (delta %) to the previous value. From blue(none to low increase) through green(moderate increase) to red(high increase).
Squeeze MTF HeatmapHere is a multi-timeframe heat map using one of the most apreciated indicators in Tradingview: Squeeze Momentum Indicator by LazyBear.
Study shall be added to 15min chart.
It indicates squeeze and momentum at: 15 min, 30 min, 60 min, 240 min and 1 Day.
Thanks to © azimuthdynamics for inspiration and portion of code
Thanks to Lazy Bear for coding Squeeze Momentum Indicator
Moving Average Heatmap Visualization7 different types of moving averages (5 different lengths of each) compared to a base moving average. Base moving average can be configured to be a slew of different types of moving averages (credit to @mortdiggiddy for the code) and have a custom length.
Red = base moving average is over other moving average (bearish)
Green = base moving average is under other moving average (bullish)
lengths for the different MAs are just fibonacci numbers due to lack of creativity.
First 5 moving averages are Simple moving average the next 5 are Exponential moving averages and after that it is weighted moving averages, volume weighted moving average (VWAP), Exponential volume weighted moving average (thanks again @mortdiggiddy ), hull moving averages and lastly zero lag moving averages.
The indicator might lag your chart out a bit so be ready for that.
Have fun!
Iridescent Liquidity Prism [JOAT]Iridescent Liquidity Prism | Peer Momentum HUD
A multi-layered order-flow indicator that combines microstructure analysis, smart-money footprint detection, and intermarket momentum signals. The script uses dynamic color-shifting themes to visualize liquidity patterns, structure, and peer momentum data directly on the chart.
There is so much to choose from inside the settings, if you think it's a mess on the chart it's because you have to personally customize it based on your needs...
Core Functionality
The indicator calculates and displays several analytical layers simultaneously:
Order-Flow Imbalance (OFI): Calculates buy vs. sell volume pressure using volume-weighted price distribution within each bar. Uses an EMA filter (default: 55 periods) to smooth the signal. Values are normalized using standard deviation to identify significant imbalances.
Smart Money Footprints: Detects accumulation and distribution zones by comparing volume rate of change (ROC) against price ROC. When volume ROC exceeds a threshold (default: 65%) and price ROC is positive, accumulation is detected. When volume ROC is high but price ROC is negative, distribution is detected.
Fractal Structure Mapping: Identifies pivot highs and lows using a fractal detection algorithm (default: 5-bar period). Maintains a rolling window of recent structure points (default: 4 levels) and draws connecting lines to show trend structure.
Fair Value Gap (FVG) Detection: Automatically detects price gaps where three consecutive candles create an imbalance. Bullish FVGs occur when the current low exceeds the high two bars ago. Bearish FVGs occur when the current high is below the low two bars ago. Gaps persist for a configurable duration (default: 320 bars) and fade when price fills the gap.
Liquidity Void Detection: Identifies candles where the high-low range exceeds an ATR threshold (default: 1.7x ATR) while volume is below average (default: 65% of 20-bar average). These conditions suggest areas where liquidity may be thin.
Price/Volume Divergence: Uses linear regression to detect when price trend direction disagrees with volume trend direction. A divergence alert appears when price is trending up while volume is trending down, or vice versa.
Peer Momentum Heatmap (PMH): Calculates composite momentum scores for up to 6 symbols across 4 timeframes. Each score combines RSI (default: 14 periods) and StochRSI (default: 14 periods, 3-bar smooth) to create a momentum composite between -1 and +1. The highest absolute momentum score across all combinations is displayed in the HUD.
Custom settings using Fractal Pivots, Skeleton Structure, Pulse Liquidity Voids, Bottom Colorful HeatMaps, and Iridescent Field.
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Visual Components
Spectrum Aura Glow: ATR-weighted bands (default: 0.25x ATR) that expand and contract around price action, indicating volatility conditions. The thickness adapts to market volatility.
Chromatic Flow Trail: A blended line combining EMA and WMA of price (default: 8-period EMA blended with WMA at 65% ratio). The trail uses gradient colors that shift based on a phase oscillator, creating an iridescent effect.
Volume Heat Projection: Creates horizontal volume profile bands at price levels (default: 14 levels). Scans recent bars (default: 150 bars) to calculate volume concentration. Each level is colored based on its volume density relative to the maximum volume level.
Structure Skeleton: Dashed lines connecting fractal pivot points. Uses two layers: a primary line (2-3px width) and an optional glow overlay (4-5px width) for enhanced visibility.
Fractal Markers: Diamond shapes placed at pivot high and low points. Color-coded: primary color for highs, secondary color for lows.
Iridescent Color Themes: Five color themes available: Iridescent (default), Pearlescent, Prismatic, ColorShift, and Metallic. Colors shift dynamically using a phase oscillator that cycles through the color spectrum based on bar index and a speed multiplier (default: 0.35).
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HUD Console Metrics
The right-side HUD displays seven key metrics:
Flow: Shows OFI status: ▲ FLOW BUY when normalized OFI exceeds imbalance threshold (default: 2.2), ▼ FLOW SELL when below -2.2, or ◆ FLOW BAL when balanced.
Struct: Structure trend bias: ▲ STRUCT BULL when microtrend > 2, ▼ STRUCT BEAR when < -2, or ◆ STRUCT RANGE when neutral.
Smart$: Institutional activity: ◈ ACCUM when smart money index = 1, ◈ DISTRIB when = -1, or ○ IDLE when inactive.
Liquid: Liquidity state: ⚡ VOID when a liquidity void is detected, or ● NORMAL otherwise.
Diverg: Divergence status: ⚠ ALERT when price/volume divergence detected, or ✓ CLEAR when aligned.
PMH: Peer Momentum Heatmap status: Shows dominant timeframe and momentum score. Displays 🪩 for bull surge (above 0.55 threshold) or 🧨 for bear surge (below -0.55).
FVG: Fair Value Gap status: Shows active gap count or CLEAR when no gaps exist. Displays GAP LONG when bullish gap detected, GAP SHORT when bearish gap detected.
Pearlscent Color with Volume Heatmap.
Parameters and Settings
Microstructure Engine:
Analysis Depth: 20-250 bars (default: 55) - Controls OFI smoothing period
Liquidity Threshold ATR: 1.0-4.0 (default: 1.7) - Multiplier for void detection
Imbalance Ratio: 1.5-6.0 (default: 2.2) - Standard deviations for OFI significance
Smart Money Layer:
Smart Money Window: 10-150 bars (default: 24) - Period for ROC calculations
Accumulation Threshold: 40-95% (default: 65%) - Volume ROC threshold
Structural Mapping:
Fractal Pivot Period: 3-15 bars (default: 5) - Period for pivot detection
Structure Memory: 2-8 levels (default: 4) - Number of structure points to track
Volume Heat Projection:
Heat Map Lookback: 60-400 bars (default: 150) - Bars to analyze for volume profile
Heat Map Levels: 5-30 levels (default: 14) - Number of price level bands
Heat Map Opacity: 40-100% (default: 92%) - Transparency of heat map boxes
Heat Map Width Limit: 6-80 bars (default: 26) - Maximum width of heat map boxes
Heat Map Visibility Threshold: 0.0-0.5 (default: 0.08) - Minimum density to display
Iridescent Enhancements:
Visual Theme: Iridescent, Pearlescent, Prismatic, ColorShift, or Metallic
Color Shift Speed: 0.05-1.00 (default: 0.35) - Speed of color phase oscillation
Aura Thickness (ATR): 0.05-1.0 (default: 0.25) - Multiplier for aura band width
Chromatic Trail Length: 2-50 bars (default: 8) - Period for trail calculation
Trail Blend Ratio: 0.1-0.95 (default: 0.65) - EMA/WMA blend percentage
FVG Persistence: 50-600 bars (default: 320) - Bars to keep FVG boxes active
Max Active FVG Boxes: 10-200 (default: 40) - Maximum boxes on chart
FVG Base Opacity: 20-95% (default: 80%) - Transparency of FVG boxes
Peer Momentum Heatmap:
Peer Symbols: Comma-separated list of up to 6 symbols (e.g., "BTCUSD,ETHUSD")
Peer Timeframes: Comma-separated list of up to 4 timeframes (default: "60,240,D")
PMH RSI Length: 5-50 periods (default: 14)
PMH StochRSI Length: 5-50 periods (default: 14)
PMH StochRSI Smooth: 1-10 periods (default: 3)
Super Momentum Threshold: 0.2-0.95 (default: 0.55) - Threshold for surge detection
Clarity & Readability:
Liquidity Void Opacity: 5-90% (default: 30%)
Smart Money Footprint Opacity: 5-90% (default: 35%)
HUD Background Opacity: 40-95% (default: 70%)
Iridescent Field:
Field Opacity: 20-100% (default: 86%) - Background color intensity
Field Smooth Length: 10-200 bars (default: 34) - Smoothing for background gradient
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Alerts
The indicator provides seven alert conditions:
Liquidity Void Detected - Triggers when void conditions are met
Strong Order Flow - Triggers when normalized OFI exceeds imbalance ratio
Smart Money Activity - Triggers when accumulation or distribution detected
Price/Volume Divergence - Triggers when divergence conditions occur
Structure Shift - Triggers when structure polarity changes significantly
PMH Bull Surge - Triggers when PMH exceeds positive threshold (if enabled)
PMH Bear Surge - Triggers when PMH exceeds negative threshold (if enabled)
Bull/Bear Prismatic FVG - Triggers when new FVG is detected (if FVG display enabled)
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Usage Considerations
Performance may vary on lower timeframes due to the volume heat map calculations scanning multiple bars. Consider reducing heat map lookback or levels if experiencing slowdowns.
The PMH feature requires data requests to other symbols/timeframes, which may impact performance. Limit the number of peer symbols and timeframes for optimal performance.
FVG boxes automatically expire after the persistence period to prevent chart clutter. The maximum box limit (default: 40) prevents excessive memory usage.
Color themes affect all visual elements. Choose a theme that provides good contrast with your chart background.
The indicator is designed for overlay display. All visual elements are positioned relative to price action.
Structure lines are drawn dynamically as new pivots form. On fast-moving markets, structure may update frequently.
Volume calculations assume typical volume data availability. Symbols without volume may show incomplete data for volume-dependent features.
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Technical Notes
Built on Pine Script v6 with dynamic request capability for PMH functionality.
Uses exponential moving averages (EMA) and weighted moving averages (WMA) for trail calculations to balance responsiveness and smoothness.
Volume profile calculation uses price level buckets. Higher levels provide finer granularity but require more computation.
Iridescent color engine uses a phase oscillator with sine wave calculations for smooth color transitions.
Box management includes automatic cleanup of expired boxes to maintain performance.
All visual elements use color gradients and transparency for smooth blending with price action.
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Customization Examples
Intraday Scalping Setup:
Analysis Depth: 30 bars
Heat Map Lookback: 100 bars
FVG Persistence: 150 bars
PMH Window: 15 bars
Fast color shift speed: 0.5+
Macro Structure Tracking:
Analysis Depth: 100+ bars
Heat Map Lookback: 300+ bars
FVG Persistence: 500+ bars
Structure Memory: 6-8 levels
Slower color shift speed: 0.2
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Limitations
Volume heat map calculations may be computationally intensive on lower timeframes with high lookback values.
PMH requires valid symbol names and accessible timeframes. Invalid symbols or timeframes will return no data.
FVG detection requires at least 3 bars of history. Early bars may not show FVG boxes.
Structure lines connect points but do not predict future structure. They reflect historical pivot relationships.
Color themes are aesthetic choices and do not affect calculation logic.
The indicator does not provide trading signals. All visual elements are analytical tools that require interpretation in context of market conditions.
Open Source
This indicator is open source and available for modification and distribution. The code is published with Pine Script v6 compliance. Users are free to customize parameters, modify calculations, and adapt the visual elements to their trading needs.
For questions, suggestions, or anything please talk to me in private messages or comments below!
Would love to help!
- officialjackofalltrades
Dynamic Volatility EnvelopeDynamic Volatility Envelope: Indicator Overview
The Dynamic Volatility Envelope is an advanced, multi-faceted technical indicator designed to provide a comprehensive view of market trends, volatility, and potential future price movements. It centers around a customizable linear regression line, enveloped by dynamically adjusting volatility bands. The indicator offers rich visual feedback through gradient coloring, candle heatmaps, a background volatility pulse, and an on-chart trend strength meter.
Core Calculation Mechanism
Linear Regression Core :
-A central linear regression line is calculated based on a user-defined source (e.g., close, hl2) and lookback period.
-The regression line can be optionally smoothed using an Exponential Moving Average (EMA) to reduce noise.
-The slope of this regression line is continuously calculated to determine the current trend direction and strength.
Volatility Channel :
-Dynamic bands are plotted above and below a central basis line. This basis is typically the calculated regression line but shifts to an EMA in Keltner mode.
-The width of these bands is determined by market volatility, using one of three user-selectable modes:
ATR Mode : Bandwidth is a multiple of the Average True Range (ATR).
Standard Deviation Mode : Bandwidth is a multiple of the Standard Deviation of the source data.
Keltner Mode (EMA-based ATR) : ATR-based bands are plotted around a central Keltner EMA line, offering a smoother channel.
The channel helps identify dynamic support and resistance levels and assess market volatility.
Future Projection :
The indicator can project the current regression line and its associated volatility bands into the future for a user-defined number of bars. This provides a visual guide for potential future price pathways based on current trend and volatility characteristics.
Candle Heatmap Coloring :
-Candle bodies and/or wicks/borders can be colored based on the price's position within the upper and lower volatility bands.
-Colors transition in a gradient from bearish (when price is near the lower band) through neutral (mid-channel) to bullish (when price is near the upper band), providing an intuitive visual cue of price action relative to the dynamic envelope.
Background Volatility Pulse :
The chart background color can be set to dynamically shift based on a ratio of short-term to long-term ATR. This creates a "pulse" effect, where the background subtly changes color to indicate rising or falling market volatility.
Trend Strength Meter :
An on-chart text label displays the current trend status (e.g., "Strong Bullish", "Neutral", "Bearish") based on the calculated slope of the regression line relative to user-defined thresholds for normal and strong trends.
Key Features & Components
-Dynamic Linear Regression Line: Core trend indicator with optional smoothing and slope-based gradient coloring.
-Multi-Mode Volatility Channel: Choose between ATR, Standard Deviation, or Keltner (EMA-based ATR) calculations for band width.
-Customizable Vertical Gradient Channel Fills: Visually distinct fills for upper and lower channel segments with user-defined top/bottom colors and gradient spread.
-Future Projection: Extrapolates regression line and volatility bands to forecast potential price paths.
-Price-Action Based Candle Heatmap: Intuitive candle coloring based on position within the volatility channel, with adjustable gradient midpoint.
-Volatility-Reactive Background Gradient: Subtle background color shifts to reflect changes in market volatility.
-On-Chart Trend Strength Meter: Clear textual display of current trend direction and strength.
-Extensive Visual Customization: Fine-tune colors, line styles, widths, and gradient aggressiveness for most visual elements.
-Comprehensive Tooltips: Detailed explanations for every input setting, ensuring ease of use and understanding.
Visual Elements Explained
Regression Line : The primary trend line. Its color dynamically changes (e.g., green for uptrend, red-pink for downtrend, neutral for flat) based on its slope, with smooth gradient transitions.
Volatility Channel :
Upper & Lower Bands : These lines form the outer boundaries of the envelope, acting as dynamic support and resistance levels.
Channel Fill : The area between the band center and the outer bands is filled with a vertical gradient. For example, the upper band fill might transition from a darker green near the center to a lighter green at the upper band.
Band Borders : The lines outlining the upper and lower bands, with customizable color and width.
Future Projection Lines & Fill :
Projected Regression Line : An extension of the current regression line into the future, typically styled differently (e.g., dashed).
Projected Channel Bands : Extensions of the upper and lower volatility bands.
Projected Area Fill : A semi-transparent fill between the projected upper and lower bands.
Candle Heatmap Coloring : When enabled, candles are colored based on their closing price's relative position within the channel. Bullish colors appear when price is in the upper part of the channel, bearish in the lower, and neutral in the middle. Users can choose to color the entire candle body or just the wicks and borders.
Background Volatility Pulse : The chart's background color subtly shifts (e.g., between a calm green and an agitated red-pink) to reflect the current volatility regime.
Trend Strength Meter : A text label (e.g., "TREND: STRONG BULLISH") positioned on the chart, providing an at-a-glance summary of the trend.
Configuration Options
Users can tailor the indicator extensively via the settings panel, with options logically grouped:
Core Analysis Engine : Adjust regression source data, lookback period, and EMA smoothing for the regression line.
Regression Line Visuals : Control visibility, line width, trend-based colors (uptrend, downtrend, flat), slope thresholds for trend definition, strong slope multiplier (for Trend Meter), and color gradient sharpness.
Volatility Channel Configuration : Select band calculation mode (ATR, StdDev, Keltner), set relevant periods and multipliers. Customize colors for vertical gradient fills (upper/lower, top/bottom), border line colors, widths, and the gradient spread factor for fills.
Future Projection Configuration : Toggle visibility, set projection length (number of bars), line style, and colors for projected regression and band areas.
Appearance & Candle Theme : Set default bull/bear candle colors, enable/disable candle heatmap, choose if body color matches heatmap, and configure heatmap gradient target colors (bull, neutral, bear) and the gradient's midpoint.
Background Volatility Pulse : Enable/disable the background effect and configure short/long ATR periods for the volatility calculation.
Trend Strength Meter : Enable/disable the meter, and choose its on-chart position and text size.
Interpretation Notes
-The Regression Line is the primary indicator of trend direction. Its slope and color provide immediate insight.
-The Volatility Bands serve as dynamic support and resistance zones. Price approaching or touching these bands may indicate potential turning points or breakouts. The width of the channel itself reflects market volatility – widening suggests increasing volatility, while narrowing suggests consolidation.
Future Projections are not predictions but rather an extension of current conditions. They can help visualize potential areas where price might interact with projected support/resistance if the current trend and volatility persist.
Candle Heatmap Coloring offers a quick visual assessment of where price is trading within the dynamic envelope, highlighting strength or weakness relative to the channel.
The Background Volatility Pulse gives a contextual feel for overall market agitation or calmness.
This indicator is designed to be a comprehensive analytical tool. Its signals and visualizations are best used in conjunction with other technical analysis techniques, price action study, and robust risk management practices. It is not intended as a standalone trading system.
Risk Disclaimer
Trading and investing in financial markets involve substantial risk of loss and is not suitable for every investor. The Dynamic Volatility Envelope indicator is provided for analytical and educational purposes only and does not constitute financial advice or a recommendation to buy or sell any security. Past performance is not indicative of future results. Always use sound risk management practices and never trade with capital you cannot afford to lose. The developers assume no liability for any financial losses incurred based on the use of this indicator.
