OPEN-SOURCE SCRIPT
Energy Script
Energy Script Indicator
Description of Indicator
The Energy Script Indicator calculates the market's energy using the formula `Energy = Price * sqrt(Volume)`; providing insight into market activity by combining price movement and volume. This indicator is designed to help traders identify potential reversals and continuation points based on energy levels.
Features
Energy Calculation: Utilizes price and volume to compute market energy, highlighting significant activity changes.
Smoothing Options: Two customizable smoothing periods to filter out noise and highlight trends.
Threshold Alert: Set a threshold value to receive alerts when energy exceeds predefined levels, aiding in quick decision-making.
Customizable Colors: Choose colors for different plot lines to suit your charting preferences.
How to Use:
1. Smoothing Periods: Adjust `Smoothing 1` and `Smoothing 2` to control the sensitivity of the energy plots.
2. Threshold: Set the `Threshold` value to identify significant energy levels. Enable or disable threshold plotting as needed.
3. Volume Integration: Toggle `Use Volume` to include or exclude volume in energy calculations.
4. Alerts: Receive alerts when energy levels cross the defined threshold, signaling potential market movements.
This indicator is a powerful tool for analyzing market dynamics by combining price action with volume, providing a deeper understanding of market energy and potential trading opportunities.
Description of Indicator
The Energy Script Indicator calculates the market's energy using the formula `Energy = Price * sqrt(Volume)`; providing insight into market activity by combining price movement and volume. This indicator is designed to help traders identify potential reversals and continuation points based on energy levels.
Features
Energy Calculation: Utilizes price and volume to compute market energy, highlighting significant activity changes.
Smoothing Options: Two customizable smoothing periods to filter out noise and highlight trends.
Threshold Alert: Set a threshold value to receive alerts when energy exceeds predefined levels, aiding in quick decision-making.
Customizable Colors: Choose colors for different plot lines to suit your charting preferences.
How to Use:
1. Smoothing Periods: Adjust `Smoothing 1` and `Smoothing 2` to control the sensitivity of the energy plots.
2. Threshold: Set the `Threshold` value to identify significant energy levels. Enable or disable threshold plotting as needed.
3. Volume Integration: Toggle `Use Volume` to include or exclude volume in energy calculations.
4. Alerts: Receive alerts when energy levels cross the defined threshold, signaling potential market movements.
This indicator is a powerful tool for analyzing market dynamics by combining price action with volume, providing a deeper understanding of market energy and potential trading opportunities.
Script de código abierto
Siguiendo fielmente el espíritu de TradingView, el autor de este script lo ha publicado en código abierto, permitiendo que otros traders puedan entenderlo y verificarlo. ¡Olé por el autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la reutilización de este código en la publicación se rige por las Normas internas. Puede añadir este script a sus favoritos y usarlo en un gráfico.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.