Institutional Flow X-Ray [Blk0ut]

Introduction
In the world of quantitative trading, volume is often described as the "fuel" of the market. However, standard volume bars have a major flaw: they show you how much changed hands, but they don't tell you who was in control.
The Institutional Flow X-Ray is designed to solve this opacity problem. It looks "under the hood" of every candle to visualize the intent of the Smart Money participants. By combining Volume Price Analysis (VPA), Wyckoff Logic, and Volatility Compression into a single interface, this tool helps traders identify when institutions are quietly accumulating positions (Absorption) before a major expansion occurs.
How It Works: The Logic
This indicator is not a simple moving average crossover. It aggregates four distinct quantitative models into one composite view:
1. Institutional Flow (The Histogram) Instead of just looking at whether price closed up or down, we calculate the "Intra-Bar Delta." We measure where the price closed relative to the high-low range of that specific candle, weighted by the volume.
• The Result: A smoothed momentum oscillator that reveals the internal strength of the trend.
• Gradient Coloring: The bars use a 4-color gradient system. Bright Green/Red indicates accelerating momentum, while Darker Green/Red indicates exhaustion or a pullback is likely.
2. Stealth Absorption (The "Gold" Signal) This is based on Wyckoff’s Law of Effort vs. Result. The script scans for a specific anomaly: Volume is significantly higher than average (>2.0x), but Price Range is significantly lower than average.
• Why this matters: When you see high volume but no price movement, it often means a large entity is absorbing all available liquidity (Iceberg Orders). These bars are painted GOLD.
3. Volatility Compression (The "Squeeze" Dots) Markets move in cycles of Expansion and Compression. This module compares the width of Bollinger Bands against Keltner Channels.
• The Logic: When the Bollinger Bands contract inside the Keltner Channels, the market is like a coiled spring. This measures potential energy.
4. Relative Strength (The Alpha Line) Institutional capital rarely flows into underperforming assets. The script automatically compares your current ticker against a benchmark (SPY for Stocks, BTC for Crypto, DXY for Forex).
• The Logic: If the benchmark is dropping, but your ticker is holding steady (Rising Blue Line), it shows Relative Strength, a key footprint of institutional support.
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Visual Guide & Usage
The Histogram (Flow & Signals)
• Green Gradients: Buyers are in control.
• Red Gradients: Sellers are in control.
• GOLD Bars (Absorption): Be alert. A major player is active. If this happens at Support, it is a high-probability Accumulation setup.
• WHITE Bars (Alpha Signal): The "Triple Confluence." This occurs when we have (1) Absorption + (2) Bullish Flow + (3) Relative Strength all activating at once. This is the strongest signal in the system.
The Volatility Map (Center Dots) The dots running along the zero line tell you the state of market energy:
• 🔴 Red (Extreme Squeeze): Ratio < 0.7. Massive energy build-up. Expect an explosive move soon.
• 🟠 Orange (Squeeze): Ratio < 1.0. Standard pre-breakout compression.
• ⚪ Gray (Normal): Standard volatility.
• 🔵 Blue (Expansion): The move is underway. Volatility is expanding.
The Heads-Up Dashboard A professional table in the corner provides real-time quantitative data so you don't have to guess:
• Inst. Flow: The raw score (0-100).
• Volatility: Tells you exactly which phase the market is in (Squeeze vs. Expansion).
• Rel. Strength: Tells you if you are "Outperforming" or "Lagging" the benchmark.
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