Lumiere’s Indicator BundleThe Lumiere’s Indicator Bundle combines three of Lumiere’s most used tools into one script:
🔹 BOS Mark-out – Marks Breaks of Structure with clear bullish/bearish levels and optional alerts.
🔹 Liquidity Mark-ou t – Draws significant swing highs/lows and automatically removes them once swept.
🔹 Trading Session High/Low – Tracks Asia, London, and New York session ranges with customizable timezone.
Why this bundle?
I made this bundle so everyone can run all my indicators at once without having to pick and choose between them or worry about chart space limits.
Instead of loading 3 separate indicators, this package gives you everything in one place. You can toggle each module (BOS, Liquidity, Sessions) on or off from the settings. All inputs are kept clean and organized in their own sections for easy adjustments.
What to expect
BOS lines always plotted on top for maximum clarity.
Liquidity highs/lows update in real time and get removed when taken out.
Session ranges show the active session’s high/low and can mark sweeps after the session closes.
Default timezone is New York (UTC-4), but you can switch to any TradingView-supported timezone.
BOS alerts are included, so you’ll never miss a structural break.
Padrões gráficos
DYNAMIC TRADING DASHBOARDStudy Material for the "Dynamic Trading Dashboard"
This Dynamic Trading Dashboard is designed as an educational tool within the TradingView environment. It compiles commonly used market indicators and analytical methods into one visual interface so that traders and learners can see relationships between indicators and price action. Understanding these indicators, step by step, can help traders develop discipline, improve technical analysis skills, and build strategies. Below is a detailed explanation of each module.
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1. Price and Daily Reference Points
The dashboard displays the current price, along with percentage change compared to the day’s opening price. It also highlights whether the price is moving upward or downward using directional symbols. Alongside, it tracks daily high, low, open, and daily range.
For traders, daily levels provide valuable reference points. The daily high and low are considered intraday support and resistance, while the median price of the day often acts as a pivot level for mean reversion traders. Monitoring these helps learners see how price oscillates within daily ranges.
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2. VWAP (Volume Weighted Average Price)
VWAP is calculated as a cumulative average price weighted by volume. The dashboard compares the current price with VWAP, showing whether the market is trading above or below it.
For traders, VWAP is often a guide for institutional order flow. Price trading above VWAP suggests bullish sentiment, while trading below VWAP indicates bearish sentiment. Learners can use VWAP as a training tool to recognize trend-following vs. mean reversion setups.
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3. Volume Analysis
The system distinguishes between buy volume (when the closing price is higher than the open) and sell volume (when the closing price is lower than the open). A progress bar highlights the ratio of buying vs. selling activity in percentage.
This is useful because volume confirms price action. For instance, if prices rise but sell volume dominates, it can signal weakness. New traders learning with this tool should focus on how volume often precedes price reversals and trends.
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4. RSI (Relative Strength Index)
RSI is a momentum oscillator that measures price strength on a scale from 0 to 100. The dashboard classifies RSI readings into overbought (>70), oversold (<30), or neutral zones and adds visual progress bars.
RSI helps learners understand momentum shifts. During training, one should notice how trending markets can keep RSI extended for longer periods (not immediate reversal signals), while range-bound markets react more sharply to RSI extremes. It is an excellent tool for practicing trend vs. range identification.
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5. MACD (Moving Average Convergence Divergence)
The MACD indicator involves a fast EMA, slow EMA, and signal line, with focus on crossovers. The dashboard shows whether a “bullish cross” (MACD above signal line) or “bearish cross” (MACD below signal line) has occurred.
MACD teaches traders to identify trend momentum shifts and divergence. During practice, traders can explore how MACD signals align with VWAP trends or RSI levels, which helps in building a structured multi-indicator analysis.
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6. Stochastic Oscillator
This indicator compares the current close relative to a range of highs and lows over a period. Displayed values oscillate between 0 and 100, marking zones of overbought (>80) and oversold (<20).
Stochastics are useful for students of trading to recognize short-term momentum changes. Unlike RSI, it reacts faster to price volatility, so false signals are common. Part of the training exercise can be to observe how stochastic “flips” can align with volume surges or daily range endpoints.
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7. Trend & Momentum Classification
The dashboard adds simple labels for trend (uptrend, downtrend, neutral) based on RSI thresholds. Additionally, it provides quick momentum classification (“bullish hold”, “bearish hold”, or neutral).
This is beneficial for beginners as it introduces structured thinking: differentiating long-term market bias (trend) from short-term directional momentum. By combining both, traders can practice filtering signals instead of trading randomly.
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8. Accumulation / Distribution Bias
Based on RSI levels, the script generates simplified tags such as “Accumulate Long”, “Accumulate Short”, or “Wait”.
This is purely an interpretive guide, helping learners think in terms of accumulation phases (when markets are low) and distribution phases (when markets are high). It reinforces the concept that trading is not only directional but also involves timing.
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9. Overall Market Status and Score
Finally, the dashboard compiles multiple indicators (VWAP position, RSI, MACD, Stochastics, and price vs. median levels) into a Market Score expressed as a percentage. It also labels the market as Overbought, Oversold, or Normal.
This scoring system isn’t a recommendation but a learning framework. Students can analyze how combining different indicators improves decision-making. The key training focus here is confluence: not depending on one indicator but observing when several conditions align.
Extended Study Material with Formulas
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1. Daily Reference Levels (High, Low, Open, Median, Range)
• Day High (H): Maximum price of the session.
DayHigh=max(Hightoday)DayHigh=max(Hightoday)
• Day Low (L): Minimum price of the session.
DayLow=min(Lowtoday)DayLow=min(Lowtoday)
• Day Open (O): Opening price of the session.
DayOpen=OpentodayDayOpen=Opentoday
• Day Range:
Range=DayHigh−DayLowRange=DayHigh−DayLow
• Median: Mid-point between high and low.
Median=DayHigh+DayLow2Median=2DayHigh+DayLow
These act as intraday guideposts for seeing how far the price has stretched from its key reference levels.
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2. VWAP (Volume Weighted Average Price)
VWAP considers both price and volume for a weighted average:
VWAPt=∑i=1t(Pricei×Volumei)∑i=1tVolumeiVWAPt=∑i=1tVolumei∑i=1t(Pricei×Volumei)
Here, Price_i can be the average price (High + Low + Close) ÷ 3, also known as hlc3.
• Interpretation: Price above VWAP = bullish bias; Price below = bearish bias.
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3. Volume Buy/Sell Analysis
The dashboard splits total volume into buy volume and sell volume based on candle type.
• Buy Volume:
BuyVol=Volumeif Close > Open, else 0BuyVol=Volumeif Close > Open, else 0
• Sell Volume:
SellVol=Volumeif Close < Open, else 0SellVol=Volumeif Close < Open, else 0
• Buy Ratio (%):
VolumeRatio=BuyVolBuyVol+SellVol×100VolumeRatio=BuyVol+SellVolBuyVol×100
This helps traders gauge who is in control during a session—buyers or sellers.
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4. RSI (Relative Strength Index)
RSI measures strength of momentum by comparing gains vs. losses.
Step 1: Compute average gains (AG) and losses (AL).
AG=Average of Upward Closes over N periodsAG=Average of Upward Closes over N periodsAL=Average of Downward Closes over N periodsAL=Average of Downward Closes over N periods
Step 2: Calculate relative strength (RS).
RS=AGALRS=ALAG
Step 3: RSI formula.
RSI=100−1001+RSRSI=100−1+RS100
• Used to detect overbought (>70), oversold (<30), or neutral momentum zones.
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5. MACD (Moving Average Convergence Divergence)
• Fast EMA:
EMAfast=EMA(Close,length=fast)EMAfast=EMA(Close,length=fast)
• Slow EMA:
EMAslow=EMA(Close,length=slow)EMAslow=EMA(Close,length=slow)
• MACD Line:
MACD=EMAfast−EMAslowMACD=EMAfast−EMAslow
• Signal Line:
Signal=EMA(MACD,length=signal)Signal=EMA(MACD,length=signal)
• Histogram:
Histogram=MACD−SignalHistogram=MACD−Signal
Crossovers between MACD and Signal are used in studying bullish/bearish phases.
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6. Stochastic Oscillator
Stochastic compares the current close against a range of highs and lows.
%K=Close−LowestLowHighestHigh−LowestLow×100%K=HighestHigh−LowestLowClose−LowestLow×100
Where LowestLow and HighestHigh are the lowest and highest values over N periods.
The %D line is a smooth version of %K (using a moving average).
%D=SMA(%K,smooth)%D=SMA(%K,smooth)
• Values above 80 = overbought; below 20 = oversold.
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7. Trend and Momentum Classification
This dashboard generates simplified trend/momentum logic using RSI.
• Trend:
• RSI < 40 → Downtrend
• RSI > 60 → Uptrend
• In Between → Neutral
• Momentum Bias:
• RSI > 70 → Bullish Hold
• RSI < 30 → Bearish Hold
• Otherwise Neutral
This is not predictive, only a classification framework for educational use.
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8. Accumulation/Distribution Bias
Based on extreme RSI values:
• RSI < 25 → Accumulate Long Bias
• RSI > 80 → Accumulate Short Bias
• Else → Wait/No Action
This helps learners understand the idea of accumulation at lows (strength building) and distribution at highs (profit booking).
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9. Overall Market Status and Score
The tool adds up 5 bullish conditions:
1. Price above VWAP
2. RSI > 50
3. MACD > Signal
4. Stochastic > 50
5. Price above Daily Median
BullishScore=ConditionsMet5×100BullishScore=5ConditionsMet×100
Then it categorizes the market:
• RSI > 70 or Stoch > 80 → Overbought
• RSI < 30 or Stoch < 20 → Oversold
• Else → Normal
This encourages learners to think in terms of probabilistic conditions instead of single-indicator signals.
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⚠️ Warning:
• Trading financial markets involves substantial risk.
• You can lose more money than you invest.
• Past performance of indicators does not guarantee future results.
• This script must not be copied, resold, or republished without authorization from aiTrendview.
By using this material or the code, you agree to take full responsibility for your trading decisions and acknowledge that this is not financial advice.
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⚠️ Disclaimer and Warning (From aiTrendview)
This Dynamic Trading Dashboard is created strictly for educational and research purposes on the TradingView platform. It does not provide financial advice, buy/sell recommendations, or guaranteed returns. Any use of this tool in live trading is completely at the user’s own risk. Markets are inherently risky; losses can exceed initial investment.
The intellectual property of this script and its methodology belongs to aiTrendview. Unauthorized reproduction, modification, or redistribution of this code is strictly prohibited. By using this study material or the script, you acknowledge personal responsibility for any trading outcomes. Always consult professional financial advisors before making investment decisions.
MTF RSI + ADX + ATR SL/TP vivekDescription:
This strategy combines the power of multi-timeframe RSI filtering with ADX trend confirmation and ATR-based risk management to capture strong directional moves.
🔑 Entry Rules:
• Daily RSI > 60
• 4H RSI > 60
• 1H RSI > 60
• 10m RSI > 40
• ADX (current timeframe) > 20
When all conditions align, a long entry is triggered.
🛡 Risk Management:
• ATR-based Stop-Loss (customizable multiplier)
• Take-Profit defined as a Risk-Reward multiple of the ATR stop
🎯 Why this Strategy?
• Ensures alignment across higher timeframes before entering a trade
• Uses ADX to avoid choppy/range-bound markets
• Built-in ATR stop-loss & take-profit for disciplined risk control
• Fully customizable parameters
This strategy is designed for trend-following swing entries. It works best on liquid instruments such as indices, forex pairs, and large-cap stocks. Always optimize the parameters based on your preferred asset and timeframe.
MTF RSI + ADX + ATR SL/TPThis strategy combines the power of multi-timeframe RSI filtering with ADX trend confirmation and ATR-based risk management to capture strong directional moves.
🔑 Entry Rules:
• Daily RSI > 60
• 4H RSI > 60
• 1H RSI > 60
• 10m RSI > 40
• ADX (current timeframe) > 20
When all conditions align, a long entry is triggered.
🛡 Risk Management:
• ATR-based Stop-Loss (customizable multiplier)
• Take-Profit defined as a Risk-Reward multiple of the ATR stop
🎯 Why this Strategy?
• Ensures alignment across higher timeframes before entering a trade
• Uses ADX to avoid choppy/range-bound markets
• Built-in ATR stop-loss & take-profit for disciplined risk control
• Fully customizable parameters
This strategy is designed for trend-following swing entries. It works best on liquid instruments such as indices, forex pairs, and large-cap stocks. Always optimize the parameters based on your preferred asset and timeframe.
Gap Up HighlighterIdentifies stocks which meet the following conditions
1) Todays Open > 1.03* Previous day high
2) Todays Close > 1.03* Previous day high
Near New High ScreenerA simple indicator intended to be used in a pinescript scanner to find stocks that are re reaching highs after a pullback or base formation. To use add it as a favourite indicator so it can be selected in a pinescript scanner.
In the settings you can select whether to use the highest high or highest close for the previous high (defaults to close) and whether to use the all time high or the high from the last X days (defaults to 252 days).
Once opened in a pine scanner apply to a watchlist and scan. Stocks with a positive % have broken out from a previous high today, those with a negative % are that % away from the previous high.
You can sort by the “Pct from Prev High%” column or use the scanner filter to filter for stocks between two values, for example between 0 and -5% to find stocks near a new high, or >0 to find stocks that have broken out today.
Chart Patterns – [AlphaGroup.Live]
# 📈 Chart Patterns Indicator –
Stop guessing. This tool hunts down the **10 most powerful price action patterns** and prints them on your chart exactly where they happen — once. No spam. No noise.
### Patterns Detected:
- Ascending / Descending / Symmetrical Triangles
- Rising & Falling Wedges
- Bull & Bear Flags
- Bull & Bear Pennants
- Double Tops & Bottoms
- Head & Shoulders / Inverse Head & Shoulders
### Why Traders Use It:
- **Clean execution**: Labels appear once, exactly where the structure forms.
- **No clutter**: Lines are capped, anchored, and never stretch across your entire chart.
- **Control**: Adjustable lookback, label spacing, and style.
### How to Apply:
- Catch continuation setups before the breakout.
- Identify reversal structures before the crowd.
- Train your eyes to see what institutions use to move billions.
⚡ Want more?
Get **100 battle-tested trading strategies**:
👉 (alphagroup.live)
This isn’t theory. It’s structure recognition at scale. Use it — or keep drawing lines by hand and falling behind.
BTC vs USDT Dominance + Info//@version=5
indicator("BTC vs USDT Dominance + Info", overlay=false)
// Ambil data BTCUSDT (Bybit)
btc = request.security("BYBIT:BTCUSDT", timeframe.period, close)
// Ambil data USDT Dominance (USDT.D)
usdtDom = request.security("CRYPTOCAP:USDT.D", timeframe.period, close)
// Normalisasi biar skalanya sama
btcNorm = (btc - ta.lowest(btc, 200)) / (ta.highest(btc, 200) - ta.lowest(btc, 200)) * 100
usdtNorm = (usdtDom - ta.lowest(usdtDom, 200)) / (ta.highest(usdtDom, 200) - ta.lowest(usdtDom, 200)) * 100
// Plot garis
plot(btcNorm, color=color.green, title="BTC (Normalized)", linewidth=2)
plot(usdtNorm, color=color.red, title="USDT Dominance (Normalized)", linewidth=2)
// Deteksi arah candle terakhir
btcUp = ta.change(btc) > 0
btcDown = ta.change(btc) < 0
// Label info otomatis
if btcUp
label.new(bar_index, btcNorm, "BTC Naik → USDT Dominance Turun",
color=color.green, textcolor=color.white, style=label.style_label_up)
if btcDown
label.new(bar_index, btcNorm, "BTC Turun → USDT Dominance Naik",
color=color.red, textcolor=color.white, style=label.style_label_down)
ATR Multiple from MAThe purpose of this indicator is to spot an over stretched price.
A stock that has price ratio of over 4x when measured from closing price to 50 SMA is considered as over stretched. An entry at this level post a higher risk of a pullback.
MA Dist/ATR of over 4x will be marked as Red color.
Bearish Breakaway Dual Session-FVGInspired by the FVG Concept:
This indicator is built on the Fair Value Gap (FVG) concept, with a focus on Consolidated FVG. Unlike traditional FVGs, this version only works within a defined session (e.g., ETH 18:00–17:00 or RTH 09:30–16:00).
See the Figure below as an example:
Bearish consolidated FVG & Bearish breakaway candle
Begins when a new intraday high is printed. After that, the indicator searches for the 1st bearish breakaway candle, which must have its high below the low of the intraday high candle. Any candles in between are part of the consolidated FVG zone. Once the 1st breakaway forms, the indicator will shades the candle’s range (high to low). Then it will use this candle as an anchor to search for the 2nd, 3rd, etc. breakaways until the session ends.
Session Reset: Occurs at session close.
Repaint Behavior:
If a new intraday (or intra-session) high forms, earlier breakaway patterns are wiped, and the system restarts from the new low.
Counter:
A session-based counter at the top of the chart displays how many bullish consolidated FVGs have formed.
Settings
• Session Setup:
Choose ETH, RTH, or custom session. The indicator is designed for CME futures in New York timezone, but can be adjusted for other markets.
If nothing appears on your chart, check if you loaded it during an inactive session (e.g., weekend/Friday night).
• Max Zones to Show:
Default = 3 (recommended). You can increase, but 3 zones are usually most useful.
• Timeframe:
Best on 1m, 5m, or 15m. (If session range is big, try higher time frame)
Usage:
See this figure as an example
1. Avoid Trading in Wrong Direction
• No Bearish breakaway = No Short trade.
• Prevents the temptation to countertrade in strong uptrends.
2. Catch the Trend Reversal
• When a bearish breakaway appears after an intraday high, it signals a potential reversal.
• You will need adjust position sizing, watch out liquidity hunt, and place stop loss.
• Best entries of your preferred choices: (this is your own trading edge)
Retest
Breakout
Engulf
MA cross over
Whatever your favorite approach
• Reversal signal is the strongest when price stays within/below the breakaway candle’s
range. Weak if it breaks above.
3. Higher Timeframe Confirmation
• 1m can give false reversals if new lows keep forming.
• 5m often provides cleaner signals and avoids premature reversals.
Summary
This indicator offers 3 main advantages:
1. Prevents wrong-direction trades.
2. Confirms trend entry after reversal signals.
3. Filters false positives using higher timeframes.
Failed example:
Usually happen if you are countering a strong trend too early and using 1m time frame
Last Mention:
The indicator is only used for bearish side trading.
VWAP Executor — v6 (VWAP fix)tarek helishPractical scalping plan with high-rate (sometimes reaching 70–85% in a quiet market)
Concept: “VWAP bounce with a clear trend.”
Tools: 1–3-minute chart for entry, 5-minute trend filter, VWAP, EMA(50) on 5M, ATR(14) on 1M, volume.
When to trade: London session or early New York session; avoid 10–15 minutes before/after high-impact news.
Entry rules (buy for example):
Trend: Price is above the EMA(50) on 5M and has an upward trend.
Entry zone: First bounce to VWAP (or a ±1 standard deviation channel around it).
Signal: Bullish rejection/engulfing candle on 1M with increasing volume, and RSI(2) has exited oversold territory (optional).
Order: Entry after the confirmation candle closes or a limit close to VWAP.
Trade Management:
Stop: Below the bounce low or 0.6xATR(1M) (strongest).
Target: 0.4–0.7xATR(1M) or the previous micro-high (small return to increase success rate).
Trigger: Move the stop to breakeven after +0.25R; close manually if the 1M candle closes strongly against you.
Filter: Do not trade if the spread widens, or the price "saws" around VWAP without a trend.
Sell against the rules in a downtrend.
Why this plan raises the heat-rate? You buy a "small discount" within an existing trend and near the institutional average price (VWAP), with a small target price.
مواقعي شركة الماسة للخدمات المنزلية
شركة تنظيف بالرياض
نقل عفش بالرياض
Candlestick Patterns Dashboard Pro+ [ULTIMATE]Unleash the power of automated candlestick analysis with the most comprehensive and customizable pattern detection tool on TradingView. This is not just another pattern scanner; it's a complete trading dashboard designed to identify, score, and confirm high-probability setups, saving you hours of manual chart analysis.
Built with performance and reliability in mind, this script goes beyond simple detection by introducing a unique reliability score for every pattern, advanced confirmation filters, and a powerful on-screen dashboard to keep you informed.
Key Features
📈 Comprehensive Pattern Detection: Automatically identifies 13 of the most effective candlestick patterns, including Bullish/Bearish Engulfing, Hammer, Shooting Star, Doji, Morning/Evening Star, and more.
🔟 Dynamic Reliability Scoring: Every pattern is assigned a score from 1-10 based on its confirmation strength. Factors include candle body size, volume confirmation, trend alignment, and higher-timeframe confluence, giving you a quantifiable measure of a pattern's potential.
📊 The Ultimate Dashboard: Your at-a-glance command center. The on-screen dashboard provides a complete summary of all active patterns, showing you exactly when they last occurred and highlighting the most recent signals. It also includes an "Overall Bias" meter for a quick sentiment check.
🛡️ Trade Smarter with Advanced Confirmation Filters: Eliminate low-quality signals and focus on what matters.
Trend Alignment: Use SMA(50) and SMA(200) to only show patterns that agree with the dominant market trend.
Volume Confirmation: Validate patterns by requiring a surge in volume.
Non-Repainting HTF Confirmation: Ensure your patterns align with the trend on a higher timeframe (e.g., Daily trend for a 4H signal) using a reliable, non-repainting method.
Market Condition Filter: Isolate patterns that occur only in "Trending" or "Ranging" markets.
Time Filter: Restrict pattern detection to specific trading sessions.
🔧 ‘Fuzzy Logic’ for Real-World Trading: Textbook patterns are rare. Use the "Fuzzy Logic" settings to adjust the criteria for patterns like the Hammer, Piercing Line, and Doji, allowing you to catch imperfect but still valid real-world formations.
⚙️ Fully Customizable Scoring: You decide what's important! Adjust the bonus scores for volume, trend, and other factors to create a scoring system that perfectly aligns with your trading strategy.
🚨 Powerful & Customizable Alerts: Never miss an opportunity.
Create alerts for any individual pattern.
Get notified of "Pattern Clusters" when multiple bullish or bearish signals appear in close succession.
Customize the alert messages to be compatible with your favorite trading automation services.
🚀 Performance Optimized: A "Max Bars Back" setting ensures the script runs smoothly and efficiently, even on lower-end devices or extensive historical data.
How To Use This Indicator
For Confirmation: The primary strength of this tool is for confirmation. Do not trade based on patterns alone. Use the detected signals to confirm your own analysis, such as a pattern appearing at a key support/resistance level, a trendline, or a Fibonacci retracement. A Bullish Engulfing pattern at a major support level is a much stronger signal than one appearing in the middle of a range.
For Discovery: Use the Dashboard to quickly scan through your favorite assets. A dashboard full of recent bullish signals on one asset, and bearish on another, can instantly help you focus your attention for the day.
Customizing for Your Style:
Start with the Market Presets ("Forex," "Stocks," "Crypto") for a solid baseline.
Dive into the Scoring Weights to tell the indicator what you value most. A pure volume trader might increase the Volume Bonus score.
Adjust the Fuzzy Logic settings based on your market's volatility. A volatile crypto market might require a more lenient Doji definition than a stable blue-chip stock.
Setting Up Alerts:
Add the indicator to your chart.
Click the "Alert" button in the TradingView toolbar.
Set the "Condition" to "Candlestick Patterns Dashboard Pro+ ".
Choose the specific alert you want from the dropdown (e.g., "Bullish Pattern Detected," "Bearish Pattern Cluster").
Customize the message if needed and click "Create."
A Note of Thanks
This script began as a personal project and has evolved into this ultimate version thanks to invaluable community feedback, bug reports, and suggestions. A special thank you to the users who helped identify and fix critical bugs related to syntax and variable scope. This collaborative effort has made the indicator more robust and reliable for everyone.
Disclaimer: This tool is for educational and analytical purposes only. All trading involves substantial risk. Past performance is not indicative of future results. Please trade responsibly.
FVG Zones – shrink on fill (bull/bear)Detects classic 3-candle FVGs (ICT definition).
Draws zones as boxes that extend to the right.
On each bar close:
Checks overlap with the current candle.
Shrinks the zone when price wicks into it (bullish: top moves down; bearish: bottom moves up).
Deletes the zone once it’s completely filled/closed.
Inputs: bullish/bearish zone color, border color, and max number of visible FVGs.
Possible extensions:
Multi-timeframe FVGs (e.g. H1 FVGs shown on M5).
Separate limits for bullish and bearish zones.
Alerts for new FVG, partial fill, or closed FVG.
Option “Body only” (ignore wicks when detecting overlap).
Minimum FVG size filter (ticks/ATR).
Trapped Traders [ScorsoneEnterprises]This indicator identifies and visualizes trapped traders - market participants caught on the wrong side of price movements with significant volume imbalances. By analyzing volume delta at specific price levels, it reveals where traders are likely experiencing unrealized losses and may be forced to exit their positions.
The point of this tool is to identify where the liquidity in a trend may be.
var lowerTimeframe = switch
useCustomTimeframeInput => lowerTimeframeInput
timeframe.isseconds => "1S"
timeframe.isintraday => "1"
timeframe.isdaily => "5"
=> "60"
= ta.requestVolumeDelta(lowerTimeframe)
price_quantity = map.new()
is_red_candle = close < open
is_green_candle = close > open
for i=0 to lkb-1 by 1
current_vol = price_quantity.get(close)
new_vol = na(current_vol) ? lastVolume : current_vol + lastVolume
price_quantity.put(close, new_vol)
if is_green_candle and new_vol < 0
price_quantity.put(close, new_vol)
else if is_red_candle and new_vol > 0
price_quantity.put(close, new_vol)
We see in this snippet, the lastVolume variable is the most recent volume delta we can receive from the lower timeframe, we keep updating the price level we're keeping track of with that lastVolume from the lower timeframe.
This is the bulk of the concept as this level and size gives us the idea of how many traders were on the wrong side of the trend, and acting as liquidity for the profitable entries. The more, the stronger.
There are 3 ways to visualize this. A basic label, that will display the size and if positive or negative next to the bar, a gradient line that goes 10 bars to the future to be used as a support or resistance line that includes the quantity, and a bubble chart with the quantity. The larger the quantity, the bigger the bubble.
We see in this example on NYMEX:CL1! that there are lines plotted throughout this price action that price interacts with in meaningful way. There are consistently many levels for us.
Here on CME_MINI:ES1! we see the labels on the chart, and the size set to large. It is the same concept just another way to view it.
This chart of CME_MINI:RTY1! shows the bubble chart visualization. It is a way to view it that is pretty non invasive on the chart.
Every timeframe is supported including daily, weekly, and monthly.
The included settings are the display style, like mentioned above. If the user would like to see the volume numbers on the chart. The text size along with the transparency percentage. Following that is the settings for which lower timeframe to calculate the volume delta on. Finally, if you would like to see your inputs in the status line.
No indicator is 100% accurate, use "Trapped Traders" along with your own discretion.
