Volume Weighted Reversal BandsThis is a vwap & vwma hybrid with upper & lower deviation bands that provide excellent price channels and reversal areas. It can be used on lower & higher timeframes, just increase the deviation % for higher timeframes. Try out the 1 minute timeframe with .5% deviation for great scalping levels.
Here is the calculation used for the main line.
(VWMA100 + VWMA500 + VWMA1000 + VWAP) / 4
So it combines 3 VWMAs with the VWAP and divides that number by 4 to give us a moving average. Then we add new levels above and below that moving average to get our channels. The channels are separated by the % deviation you choose in the settings. For tighter bands, lower the percentage deviation and for wider bands, increase the percentage deviation.
The fattest line in the middle is the main moving average and you can expect price to regularly return to this level. The thick lines are the main moving average plus or minus the percentage deviation you have set. There are 10 levels in each direction from the main moving average. The is also a thin short term moving average as well with a custom calculation. It takes 4 different length moving averages that are weighted and 4 more that are volume weighted and divides the total by 8.The lines will be green when price is above the line and red when price is below the line. The thin white line is the VWAP on its own.
These lines will act as dynamic support and resistance so you can scalp them back and forth. These levels work so well because they are volume weighted and the algos hedge their positions back and forth constantly.
For best results, use this indicator on tickers with the highest volume and trading action as the price will stick to these levels better when the big money players are hedging. Some great tickers for this indicator are APPL, SPY, BTC, ETH.
All colors and linewidths can be customized in the settings easily as well as turning off the VWAP or short moving average and adjusting the percentage deviation for the channels.
***MARKETS***
This indicator can be used on all markets, including stocks, crypto, futures and forex.
***TIMEFRAMES***
This indicator can be used on all timeframes.
***TIPS***
Try using numerous indicators of ours on your chart for extra confirmation. Our favorites to pair with these bands are the Scalper Ribbon and Trend Friend Signals. The 3 combined give you a lot of extra confirmation on whether the market is going to reverse at these levels.
X-volume
MFI + Realtime DivergencesMoney Flow Index (MFI) + Realtime Divergences + Alerts
This version of the MFI indicator adds the following 5 additional features to the stock MFI:
- Optional divergence lines drawn directly onto the oscillator in realtime.
- Configurable alerts to notify you when divergences occur.
- Configurable lookback periods to fine tune the divergences drawn in order to suit different trading styles and timeframes, including the ability to enable automatic adjustment of pivot period per chart timeframe.
- Background colouring option to indicate when the MFI oscillator has crossed above or below its centerline, or optionally when both the MFI has crossed its centerline and an external oscillator, which can be linked via the settings, has also crossed its centerline.
- Alternate timeframe feature allows you to configure the oscillator to use data from a different timeframe than the chart it is loaded on.
This indicator adds additional features onto the standard MFI , whose core calculations remain unchanged. Namely the configurable option to automatically, quickly and clearly draw divergence lines onto the oscillator for you as they occur in realtime. It also has the addition of unique alerts, so you can be notified when divergences occur without spending all day watching the charts. Furthermore, this version of the TSI comes with configurable lookback periods, which can be configured in order to adjust the sensitivity of the divergences, in order to suit shorter or higher timeframe trading approaches.
What is the Money Flow Index ( MFI )?
Investopedia describes the True Strength Indicator as follows:
“The Money Flow Index ( MFI ) is a technical oscillator that uses price and volume data for identifying overbought or oversold signals in an asset. It can also be used to spot divergences which warn of a trend change in price. The oscillator moves between 0 and 100.
Unlike conventional oscillators such as the Relative Strength Index ( RSI ), the Money Flow Index incorporates both price and volume data, as opposed to just price. For this reason, some analysts call MFI the volume-weighted RSI .”
What are divergences?
Divergence is when the price of an asset is moving in the opposite direction of a technical indicator, such as an oscillator, or is moving contrary to other data. Divergence warns that the current price trend may be weakening, and in some cases may lead to the price changing direction.
There are 4 main types of divergence, which are split into 2 categories;
regular divergences and hidden divergences. Regular divergences indicate possible trend reversals, and hidden divergences indicate possible trend continuation.
Regular bullish divergence: An indication of a potential trend reversal, from the current downtrend, to an uptrend.
Regular bearish divergence: An indication of a potential trend reversal, from the current uptrend, to a downtrend.
Hidden bullish divergence: An indication of a potential uptrend continuation.
Hidden bearish divergence: An indication of a potential downtrend continuation.
Setting alerts.
With this indicator you can set alerts to notify you when any/all of the above types of divergences occur, on any chart timeframe you choose.
Configurable pivot periods.
You can adjust the default pivot periods to suit your prefered trading style and timeframe. If you like to trade a shorter time frame, lowering the default lookback values will make the divergences drawn more sensitive to short term price action.
How do traders use divergences in their trading?
A divergence is considered a leading indicator in technical analysis , meaning it has the ability to indicate a potential price move in the short term future.
Hidden bullish and hidden bearish divergences, which indicate a potential continuation of the current trend are sometimes considered a good place for traders to begin, since trend continuation occurs more frequently than reversals, or trend changes.
When trading regular bullish divergences and regular bearish divergences, which are indications of a trend reversal, the probability of it doing so may increase when these occur at a strong support or resistance level . A common mistake new traders make is to get into a regular divergence trade too early, assuming it will immediately reverse, but these can continue to form for some time before the trend eventually changes, by using forms of support or resistance as an added confluence, such as when price reaches a moving average, the success rate when trading these patterns may increase.
Typically, traders will manually draw lines across the swing highs and swing lows of both the price chart and the oscillator to see whether they appear to present a divergence, this indicator will draw them for you, quickly and clearly, and can notify you when they occur.
Disclaimer: This script includes code from the stock MFI by Tradingview as well as the Divergence for Many Indicators v4 by LonesomeTheBlue.
Pocket Pivot with extrapolated Volume and Moving AveragesThe script shows historical pocket pivots, much as other scripts with a green diamond shape on the volume pane.
When the market is open, the current bar, however, is extrapolated to the end of the day using a sixth-order polynomial.
Thus real-time pocket pivots are shown. To work properly, the user must input a time-zone offset parameter; the default is west coast USA.
Time-zone offset is -12 hours to +12 hours compared to the NYSE exchange time zone (USA west coast: -3.)
The volume extrapolation polynomial is based on a historical NASDAQ intraday volume model developed locally by a team.
Only ten-day lookback pocket pivots are computed as defined initially by Dr. Chris Kacher. (The default lookback can be changed by the user.)
Only pocket pivots are shown where the low of the daily bar is within user-defined proximity to the 50-day moving average or 10-day moving average (for continuation pocket pivots.)
Relative Volume IndicatorA simple indicator showing the relation of volume to highest volume for a define number of bars. Helps to differentiate periods of low and high volume.
Define the number of bars to find the highest volume used as a basis.
Apply a simple moving average to smoothen the volume. Set it to 1 to disable smoothing.
Define a threshold differentiating low and high volume.
OMXS30 Volume This indicator summarizes the volume for all stocks in the OMXS30 index. Wait until the candle closes before reading the volume.
Buy and Sell Pressure unknown author. Just wanted to publish this so I can share the link.
indicator shows volume bars in a sub-chart but separates the buy and sell
Multi-VolumeThis indicator displays volume in several formats:
Volume Bar Format:
Normal Volume: Shows the normal volume bar colors based on each candle's price direction
Up/Down Volume: Breaks down each volume bar into buying volume (volume added when price goes up) and selling volume (volume added when price goes down)
Volume Pressure: Breaks down each volume bar based on the length of the candle and its "pressure wick". See below for more information.
Flip Down Volume:
The down volume bar will be displayed below the center line.
Show Delta:
When selected with "Up/Down Volume" or "Volume Pressure", a small line will be displayed at the net volume (difference between up and down volume).
Projected Volume:
Instead of current volume, it will show expected volume at end of candle based on volume per second.
Volume Pressure:
On a green candle:
The red part represents the upper wick, the volume as the price comes back down from its high
The green part represents the rest of the candle, the volume as the price goes up from its low to the close
On a red candle:
The green part represents the lower wick, the volume as the price comes back up from its low
The red part represents the rest of the candle, the volume as the price goes down from its high to the close
To Update to Latest Version:
To update to the latest version, just close the indicator and add it again.
Candle Fill % MeterFor use with Hollow Candles
Fills Candles based on either the value of the RSI or coppock scaled to fit properly between the open and close. Makes for a compact visual with lot's of information given. Toggle bells and whistles in settings such as arrows to indicate the direction of the value being measured, dividing levels, fill from candle open all the time instead of the bottom up and more.
Volume Buy/Sell (by iammaximov)Buy/Sell Volume
Buy/Sell volume based on total bar amplitude (high/low price) and close/open (for calculate vbuy > vsell or vbuy < vsell)
Improved Lowry Up-Down Volume + Stocks Indicatordocs.cmtassociation.org
In Paul F. Desmond's award winning paper in 2002 entitled "Identifying Bear Market Bottoms and New Bull Markets", he proposed an indicator for panic buying and selling that can be used to determine major market bottoms.
The paper explains that in major bear markets, you should have at least one, or more than one multiple 90% down days. Recoveries out of bear markets, or beginnings of new bull markets, should have at least one of the following conditions:
1) At least one 90% up volume day
2) At least two back-to-back 80% up volume days
Up and Down volume are defined as:
1) 90% up volume - defined as 90% up volume / total volume (or 10% down volume / total volume)
2) 90% down volume - defined as 90% down volume / total volume (or 10% up volume / total volume)
Several scripts exist in Tradingview to show this indicator for Up and Down volume, along with arrows or indicators for green up days or red down days.
However, this script is an improved version as it allows you the option to customize a couple parameters:
1) You may chose whether you'd like to use volume or stocks - sometimes it's better to have confluence between volume and actual stocks at the 90% threshold
2) You may chose the exchanges to consider - in the paper the NYSE is discussed, but this allows the expansion into NYSE, NASDAQ, DOW, and even a combined NYSE + NASDAQ + DOW indicator
3) It uniquely codes in the ability to plot a buy signal for both 90% up days, but also two back-to-back 80% up days - which is in the spirit of the original paper
I hope you enjoy this script and please let me know if you'd like me to make any modifications or additions.
Thank you, sincerely,
Jim Bosse
Volume Histogram [SpiritualHealer117]This indicator is a histogram produced with Pinescript's boxes and is helpful for spotting support, resistance, and key levels. The indicator shows the volume executed at each source price over a customizable time period. The "Key Level" in this indicator is the price at which the most volume was executed, and the "Major Levels" are levels where volume was over a percentile threshold, which you can customize in settings. Feel free to give any feedback on the indicator or make a copy for yourself!
Daily Volume, RVol, RRVol, and RS/RW LabelsHeads-up display of essential Real Day Trading criteria
Daily Volume
Relative Strength/Weakness
ATR 14 and ATR 14 percent of price
Relative Volume (RVol)
Relative Volume to SPY RVol (RRVol)
Buy_Sell_Vol_with_50EMAThis indicator displays both buyer and seller volume with the 50 Exponential Moving Average (50 EMA).
Courtesy of, The Compound Trading Group.
3LS | 3 Line Strike Strategy [Kintsugi Trading]What is the 3LS | 3 Line Strike Strategy?
Incorporating the 3 Line Strike candlestick pattern into our strategy was inspired by Arty at The Moving Average and the amazing traders at TheTrdFloor .
The Three Line Strike is a trend continuation candlestick pattern consisting of four candles. Depending on their heights and collocation, a bullish or a bearish trend continuation can be predicted.
In a symphony of trend analysis, price action, and volume we can find and place high-probability trades with the 3LS Strategy.
How to use it!
----- First, start by choosing a Stop-Loss Strategy, Stop PIP Size, and Risk/Reward Ratio -----
- Stop-Loss Strategy
Fixed PIP Size – This uses the top/bottom of the indicator candle and places a TP based on the chosen Risk:Reward ratio.
ATR Trail (No set Target Profit, only uses ATR Stop)
ATR Trail-Stop (Has set Target Profit, however, stop is based on ATR inputs)
**If you choose an ATR Stop-Loss Strategy - input the desired ATR period and Multiple you would like the stop to be calculated at**
**ATR Stop-Loss Strategies have a unique alert setup for Auto-Trading. See Auto-Trading Section**
- Risk/Reward Ratio = If you have a .5 risk/reward, it means you are risking $100 to make $50.
- Additional Stop PIP Size = Number of PIPs over the default stop location of the top or bottom of the indicator candle.
----- Next, we set the Session Filter -----
Set the Timezone and Trade Session you desire. If no specific session is desired, simply set the Trade Session to 00:00 - 00:00.
----- Next, we set the Moving Average Cloud Fill -----
Enter the Fast and Slow Moving Average Length used to calculate trend direction:
MA Period Fast
MA Period Slow
These inputs will determine whether the strategy looks for Long or Short positions.
----- Next, we set the VSA – Volume Spread Analysis Settings -----
Check the box to show the indicator at the bottom of the chart if desired.
This is just a different visual output of the VSA | Volume Spread Analysis indicator available for free under the community indicators tab. You can add that indicator to your chart and see the same output in candle format.
In combination with the Moving Average Cloud, the Volume Spread Analysis will help us determine when to take a trade and in what direction.
The strategy is essentially looking for small reversals going against the overall trend and placing a trade once that reversal ends and the price moves back in the direction of the overall trend.
The 3LS Strategy utilizes confirmation between trend, volume, and price action to place high probability trades.
The VSA is completely customizable by:
Moving Average Length
MA-1 Multiplier
MA-2 Multiplier
MA-3 Multiplier
Check out the VSA | Volume Spread Analysis indicator in the community scripts section under the indicators tab to use this awesome resource on other strategies.
----- Next, we have the option to view the automated KT Bull/Bear Signals -----
Check the boxes to show the buy-sell signal on the chart if desired.
----- Next, we set the risk we want to use if Auto Trading the strategy -----
I always suggest using no more than 1-3% of your total account balance per trade. Remember, if you have multiple strategies triggering per day with each using 1%, the total percent at risk will be much larger.
For Example – if you have 10 strategies each risking 1% your total risk is 10% of your account, not 1%! Be mindful to only use 1-3% of your total account balance across all strategies, not just each individual one.
----- Finally, we backtest our ideas -----
After using the 'Strategy Tester' tab on TradingView to thoroughly backtest your predictions you are ready to take it to the next level - Automated Trading!
This was my whole reason for creating the script. If you work a full-time job, live in a time zone that is hard to trade, or just don't have the patience, this will be a game-changer for you as it was for me.
Auto-Trading
When it comes to auto-trading this strategy I have included two options in the script that utilize the alert messages generated by TradingView.
*Note: Please trade on a demo account until you feel comfortable enough to use real money, and then please stick to 1%-2% of your total account value in risk per trade.*
AutoView
PineConnector
**ATR Auto-Trading Alert Setup**
How to create alerts on 3 Line Strike Strategy
For Trailing Stops:
1) Adjust autoview/pineconnector settings
2) Click "add alert"
3) Select "Condition" = Strategy Name
4) Select "Order Fills Only" from the drop-down
3) Remove template message text from "message" box and place the exact text. '{{strategy.order.alert_message}}'
4) Click "create"
For Fixed Pip Stop:
1) Adjust autoview/pineconnector settings
2) Click "add alert"
3) Select "Condition" = Strategy Name
4) Select "alert() function calls only"
5) I like to title my Alert Name the same thing I named it as an Indicator Template to keep track
Good luck with your trading!
Banknifty Volume - IN
This simple indicator computes the average Relative Strength Index of each Banknifty stock and displays the volume on the chart with color schemes while the average line indicates the average RSI of all Bank Stocks. This indicator works on Banknifty and its stocks.
It works on all time frames
How You can use this?
You can use this indicator for Volume analysis if the average RSI line is above the 0 line, the stock is moving upside and vice versa for Downside .
Realtime Volume Analysis ToolbarThis script displays an intrabar volume analysis in realtime
displayed data is the following
Total volume
Up volume
Down volume
Delta
Buyers %
More options will be added in the future, at least customization of the colors.
Volume Trend Meter LTFA new take to an already popular indicator of mine, now with lower time frame support for a volume called Volume Trend Meter LTF (VTML).
The VTM LTF indicator measures the volume pressure at a specific part of the candle (Start, Middle, or the end of the candle) and displays it as a histogram.
This indicator sums up all green candle volumes and red candle volumes over the selected part of the candle (Select in settings - start end or middle) and plots their values by subtracting increasing volume and decreasing volume.
Use this indicator to identify increasing volume with the green candles (close bigger than open) and increasing volume of the red candles (close is smaller than open).
Can also work on daily charts and higher.
======= Calculation ==========
For Green Column: The total Volume of green candles is higher than the total red candle volume.
For Red Column: The total Volume of red candles is higher than the total green candle volume.
======= Volume Trend Meter LTF Colors =======
Green: Increasing buying pressure.
Red: Increasing selling pressure.
My original VTM (not the lower time frame version):
Like if you like and Follow me for upcoming indicators/strategies: www.tradingview.com
Volume Spread for VSA CustomHey everyone, I have been using volume a lot more lately as price action can sometimes get manipulated but volume shows us the truth!
Anyways, I have enjoyed the Volume Spread for VSA indicator but wished I had the code to change a few settings. This volume indicator includes spread analysis with the ability to customize input values and I'm making it open source so you can do with it as you please.
I have made notes all throughout the code to give suggestions on a few changes or why I have written it in such a way. I have also tried to section everything off to make it easier to see where each piece of the code is used. Overall I think it is a good example of how to code cleanly and how to add useful notes when you are learning Pine for yourself :D
The indicator on the price chart is my Donchian Channel indicator, which you can also find on my profile. This is the one I use every day.
Intraday predictive High Volume Activity sessions [BEA]Idea:
This indicator is designed to know the high traded volume sessions in advance before the day starts.
The predictive volume bars will be plotted in advance once a new trading session starts.
Logic Used:
The basic idea is to store each bar volume / Volume MA data for the selected time. So, the first bar of each data is stored for all selected historical days.
Once the data is stored, I am taking average of each bar data for the selected Historical days.
How to Use:
This gives me an idea of the volume behavior throughout the days based on historical data. So I decide my time of trading for that specific times sessions where the traded volume activity is high.
The bars which are more than the Moving average ( Highlighted Volume bars plotted in future ) is the time session to focus.
Designed only for intraday timeframes.
Here in the image, you can see the session in advance for high traded volume activity.
Try it test it , let me know if it can be improved further.
Have a happy trading.
DISCLAIMER
Any and all liability for risks resulting from investment transactions or other asset dispositions carried out by the user based on information received or a market analysis is expressly excluded by me.
All the information made available here is generally provided to serve as an example only, without obligation and without specific recommendations for action. It does not constitute and cannot replace investment advice. We therefore recommend that you contact your personal financial advisor before carrying out specific transactions and investments.
Do your own research, this is not a financial advice.
PulseVolume can help confirm signals we might discover using other methods of technical analysis .
This indicator's logic spots above-average turnover and then tests against the price change. Pulse highlights sessions with heavy volume and directional moves. This can help take out the noise and help confirm the trend.
All-in-one CPR indicator Introduction and Acknowledgement:
The script is basically a mashup script and provides a combined functionality of various indicators. I'll explain the usefulness and the optimal usage of the script after giving the credits where it is due. A CPR indicator for visually identifying the trend along with the strength of the trend is NOT available in the public library of TradingView. Hence, the need of this indicator.
The credit of creating the original indicators remain unknown to me but I would like to acknowledge the authors whose formulae and codes I have used for creating this mashup indicator.
- Frank Ochoa
- Guruprasad Meduri
- Rafael Zioni
- Stoked Stocks
- Pine team for default indicators
The prime focus of the script is identifying and simplifying the 2 main aspects of a trend:
1. Direction / Underlying trend
2. Strength of the trend
Flaws in traditional CPR:
Some may see this as a flaw, some may not. So take my opinion with a grain of salt. In general, the traditional CPR indicator is used to plot just support and resistance levels, and the trend identification is purely discretionary. In addition to this, there is no way to assess the strength of the move without using a dedicated volumed based indicator. This causes amateur traders to take counter trades to the market direction.
What is the need of this hybrid indicator?
A CPR indicator that also aids in visually identifying the trend and the strength of the trend with respect to the price action in NOT available in the public library of TradingView. The traditional CPR can be used to assess the rough direction of the market but if it combined with the Hull ribbon, the probability of identifying the trend increases manifold. Hence, I decided to create this mashup indicator.
In addition to the basic CPR pivots, the script provides the functionality of the following indicators:
1. HMA based trend ribbons with auto buy/sell signals
2. Volatility based bands - Bollinger bands, Keltner channel, Donchian channel, envelope.
3. Coloured volume candles to determine the strength of the trend
4. CPR with daily, weekly, and monthly levels
5. Previous day high/low
6. Tomorrow CPR
7. 3 Simple moving averages
8. Volume Weighted Average Price (VWAP)
Correct usage of the indicator:
The optimal usage of the indicators consists of mainly 2 parts:
1. Identification of the trend using the combination of CPR and Hull ribbon
2. Determining the strength of the trend
How to identify the trend?
In general, when the price is above CPR it is considered a bullish trend. Also, when the price is above the Hull ribbon, it is considered bullish. Reverse is true for a bearish trend. Combining the traditional CPR logic with the Hull trend ribbon, we can conclude that:
1. Bullish trend = Price above CPR and above the Hull ribbon
2. Bearish trend = Price below CPR and below the Hull ribbon
If the Hull ribbon is showing a zig-zag move, the trend will be sideways. Also, the time frame of the Hull ribbon can be defined as per the need of the user.
Exhibit: Identification of a bullish trend
Exhibit: Identification of a bullish trend with a contra move (pullback)
Exhibit: Identification of a bearish trend
Exhibit: Identification of a bearish trend with a contra move (pullback)
How to determine the strength of the trend?
1. Strong trend = The dark coloured candles represent volume more than 150% of the look back period. For instance
2. Moderate trend = The bright coloured candles represent volume between 50-150%.
3. Neutral trend = The Grey coloured candles represent a weak trend where the volume is less than 50%.
Exhibit: Identification of a strong bearish trend along with the trend direction
Exhibit: Identification of a strong bullish trend using only coloured candles
All the other indicators including the SMA, VWAP, Bollinger bands, Keltner channels, etc. can be used as per the taste of the trader.
Thanks for reading! I hope you find this indicator useful.
Happy learning. Cheers!
Rajat Kumar Singh (@johntradingwick)
Community Manager (India), TradingView
Volume Value per UnitThis script will plot the result of Volume / Close.
This is meant to normalize the volume of tickers with exponential growth, for example a ticker like $BTC that went from $1 to $50k. Having the volume divided by the close will normalize the volume for when the price was $1 and $50k.
Volume GainThis indicator shows the amount, in terms of a percentage, that the volume is currently above or below the current volume average.
((Volume - volumeMA) / volume) * 100
Ways to use:
1) We could consider movements in price to be extremely strong when the volumeGain is above the upper limit line
i.e. the current volume is more than 50% higher than the current average volume
2) We could consider movements in price to be extremely weak when the volumeGain is below the lower limit line
i.e. the current volume is less than 50% lower than the current average volume
