Sword of a Thousand Truths (Wyckoff Sniper)This identifies hidden pivot points in price action by uniquely identifying Wyckoff patterns and signatures.
If you aren't familiar with Wyckoff, it is strongly advised that you at a minimum learn about accumulation and distribution (school.stockcharts.com)
Settings and Configs
Scanning Length -- this is how many candles are considered into each phase of Wyckoff accumulation or distribution. The longer you set this length, the more certainty in the indicators signals. You can think of this akin to that of a higher time frame.
Green/Red Clouds are Wyckoff regions of accumulation and distribution (supports, resistances) -- if price enters into these regions, it is likely to experience volatility in the opposite direction. However , if the price escapes these regions, it will most likely dip or rip in the opposite direction. (e.g., if the price is riding within the distribution region in an upward trend, and then breaksout, this is a confirmed distribution and upward price movement will typically ensue)
Red/green lines are the moving averages of accumulation and distribution. These lines are absolutely critical to keep an eye on, because they are the gateway to a greater macro-trend. When any interaction takes place with these lines (e.g., price, accum./dist. regions, etc), there is a greater force at play, presenting itself. Just like a MACD represents two different moving averages... any cross is significant... this principal also applies to the clouds of accum./dist. and their EMA lines.
Green/Red Lines are the exponential moving averages (200) of each confirmed Wyckoff Spring /UTAD occurrences. When price interacts w/ this line, it will either cause volatility . If price recovers off of the spring EMA , it is a sign of strength. If it is rejected off of the UTAD EMA , it is a sign of weakness or an SOS (sign of strength)
Buy/sell signals (red/green arrows) are signals that confirm trend. You can interpret these as buy/sell signals. But you should always be aware of what the greater macro trend is. If your 4h chart is showing a resistance at the 200 dist. EMA, but your 5 minute is showing a resistance, you should interpret this bearishly. But again, this is all contextual.
Other tidbits and utterances
Remember to determine the macro-trend before committing to any ideas of what your security is likely to do.
It is highly recommended that you use multiple instances of this script to gain a composite-view of what the security is doing. To do this, add another instance, and set your scanning length to a different value than the others. When you combine multiple instances of this, you can gain an even greater insight. For example, when accumulation regions overlap, this is a bullish signal. (The practical translation is: if accumulation regions overlap from 2 different timeframes, then typically a MM/Institution will seek a higher range to accumulate, later distribute, because 2 different timeframes have no more range to the downside to accumulate)
Be sure to use your utmost curiosity when factoring this script into your analysis, there are tons of interactions that the data of this script presents. (i.e., spring and UTAD clouds will sometimes bounce right off of each other in succession, which is a golden-occurrence and can lead to significant upside. (You can see this on the 1d, 1w chart of BTC )
All feedback, critiques, observations, etc, are welcomed and requested.
Cheers
Pesquisar nos scripts por "Wyckoff"
VPSA-VTDDear Sir/Madam,
I am pleased to present the next iteration of my indicator concept, which, in my opinion, serves as a highly useful tool for analyzing markets using the Volume Spread Analysis (VSA) method or the Wyckoff methodology.
The VPSA (Volume-Price Spread Analysis), the latest version in the family of scripts I’ve developed, appears to perform its task effectively. The combination of visualizing normalized data alongside their significance, achieved through the application of Z-Score standardization, proved to be a sound solution. Therefore, I decided to take it a step further and expand my project with a complementary approach to the existing one.
Theory
At the outset, I want to acknowledge that I’m aware of the existence of other probabilistic models used in financial markets, which may describe these phenomena more accurately. However, in line with Occam's Razor, I aimed to maintain simplicity in the analysis and interpretation of the concepts below. For this reason, I focused on describing the data using the Gaussian distribution.
The data I read from the chart — primarily the closing price, the high-low price difference (spread), and volume — exhibit cyclical patterns. These cycles are described by Wyckoff's methodology, while VSA complements and presents them from a different perspective. I will refrain from explaining these methods in depth due to their complexity and broad scope. What matters is that within these cycles, various events occur, described by candles or bars in distinct ways, characterized by different spreads and volumes. When observing the chart, I notice periods of lower volatility, often accompanied by lower volumes, as well as periods of high volatility and significant volumes. It’s important to find harmony within this apparent chaos. I think that chart interpretation cannot happen without considering the broader context, but the more variables I include in the analytical process, the more challenges arise. For instance, how can I determine if something is large (wide) or small (narrow)? For elements like volume or spread, my script provides a partial answer to this question. Now, let’s get to the point.
Technical Overview
The first technique I applied is Min-Max Normalization. With its help, the script adjusts volume and spread values to a range between 0 and 1. This allows for a comparable bar chart, where a wide bar represents volume, and a narrow one represents spread. Without normalization, visually comparing values that differ by several orders of magnitude would be inconvenient. If the indicator shows that one bar has a unit spread value while another has half that value, it means the first bar is twice as large. The ratio is preserved.
The second technique I used is Z-Score Standardization. This concept is based on the normal distribution, characterized by variables such as the mean and standard deviation, which measures data dispersion around the mean. The Z-Score indicates how many standard deviations a given value deviates from the population mean. The higher the Z-Score, the more the examined object deviates from the mean. If an object has a Z-Score of 3, it falls within 0.1% of the population, making it a rare occurrence or even an anomaly. In the context of chart analysis, such strong deviations are events like climaxes, which often signal the end of a trend, though not always. In my script, I assigned specific colors to frequently occurring Z-Score values:
Below 1 – Blue
Above 1 – Green
Above 2 – Red
Above 3 – Fuchsia
These colors are applied to both spread and volume, allowing for quick visual interpretation of data.
Volume Trend Detector (VTD)
The above forms the foundation of VPSA. However, I have extended the script with a Volume Trend Detector (VTD). The idea is that when I consider market structure - by market structure, I mean the overall chart, support and resistance levels, candles, and patterns typical of spread and volume analysis as well as Wyckoff patterns - I look for price ranges where there is a lack of supply, demand, or clues left behind by Smart Money or the market's enigmatic identity known as the Composite Man. This is essential because, as these clues and behaviors of market participants — expressed through the chart’s dynamics - reflect the actions, decisions, and emotions of all players. These behaviors can help interpret the bull-bear battle and estimate the probability of their next moves, which is one of the key factors for a trader relying on technical analysis to make a trade decision.
I enhanced the script with a Volume Trend Detector, which operates in two modes:
Step-by-Step Logic
The detector identifies expected volume dynamics. For instance, when looking for signs of a lack of bullish interest, I focus on setups with decreasing volatility and volume, particularly for bullish candles. These setups are referred to as No Demand patterns, according to Tom Williams' methodology.
Simple Moving Average (SMA)
The detector can also operate based on a simple moving average, helping to identify systematic trends in declining volume, indicating potential imbalances in market forces.
I’ve designed the program to allow the selection of candle types and volume characteristics to which the script will pay particular attention and notify me of specific market conditions.
Advantages and Disadvantages
Advantages:
Unified visualization of normalized spread and volume, saving time and improving efficiency.
The use of Z-Score as a consistent and repeatable relative mechanism for marking examined values.
The use of colors in visualization as a reference to Z-Score values.
The possibility to set up a continuous alert system that monitors the market in real time.
The use of EMA (Exponential Moving Average) as a moving average for Z-Score.
The goal of these features is to save my time, which is the only truly invaluable resource.
Disadvantages:
The assumption that the data follows a normal distribution, which may lead to inaccurate interpretations.
A fixed analysis period, which may not be perfectly suited to changing market conditions.
The use of EMA as a moving average for Z-Score, listed both as an advantage and a disadvantage depending on market context.
I have included comments within the code to explain the logic behind each part. For those who seek detailed mathematical formulas, I invite you to explore the code itself.
Defining Program Parameters:
Numerical Conditions:
VPSA Period for Analysis – The number of candles analyzed.
Normalized Spread Alert Threshold – The expected normalized spread value; defines how large or small the spread should be, with a range of 0-1.00.
Normalized Volume Alert Threshold – The expected normalized volume value; defines how large or small the volume should be, with a range of 0-1.00.
Spread Z-SCORE Alert Threshold – The Z-SCORE value for the spread; determines how much the spread deviates from the average, with a range of 0-4 (a higher value can be entered, but from a logical standpoint, exceeding 4 is unnecessary).
Volume Z-SCORE Alert Threshold – The Z-SCORE value for volume; determines how much the volume deviates from the average, with a range of 0-4 (the same logical note as above applies).
Logical Conditions:
Logical conditions describe whether the expected value should be less than or equal to or greater than or equal to the numerical condition.
All four parameters accept two possibilities and are analogous to the numerical conditions.
Volume Trend Detector:
Volume Trend Detector Period for Analysis – The analysis period, indicating the number of candles examined.
Method of Trend Determination – The method used to determine the trend. Possible values: Step by Step or SMA.
Trend Direction – The expected trend direction. Possible values: Upward or Downward.
Candle Type – The type of candle taken into account. Possible values: Bullish, Bearish, or Any.
The last available setting is the option to enable a joint alert for VPSA and VTD.
When enabled, VPSA will trigger on the last closed candle, regardless of the VTD analysis period.
Example Use Cases (Labels Visible in the Script Window Indicate Triggered Alerts):
The provided labels in the chart window mark where specific conditions were met and alerts were triggered.
Summary and Reflections
The program I present is a strong tool in the ongoing "game" with the Composite Man.
However, it requires familiarity and understanding of the underlying methodologies to fully utilize its potential.
Of course, like any technical analysis tool, it is not without flaws. There is no indicator that serves as a perfect Grail, accurately signaling Buy or Sell in every case.
I would like to thank those who have read through my thoughts to the end and are willing to take a closer look at my work by using this script.
If you encounter any errors or have suggestions for improvement, please feel free to contact me.
I wish you good health and accurately interpreted market structures, leading to successful trades!
CatTheTrader
Auto Volume Spread Analysis (VSA) [TANHEF]Auto Volume Spread Analysis (visible volume and spread bars auto-scaled): Understanding Market Intentions through the Interpretation of Volume and Price Movements.
All the sections below contain the same descriptions as my other indicator "Volume Spread Analysis" with the exception of 'Auto Scaling'.
█ Auto-Scaling
This indicator auto-scales spread bars to match the visible volume bars, unlike the previous "Volume Spread Analysis " version which limited the number of visible spread bars to a fixed count. The auto-scaling feature allows for easier navigation through historical data, enabling both more historical spread bars to be viewed and more historical VSA pattern labels being displayed without requiring using the bar replay tool. Please note that this indicator’s auto-scaling feature recalculates the visible bars on the chart, causing the indicator to reload whenever the chart is moved.
Auto-scaled spread bars have two display options (set via 'Spread Bars Method' setting):
Lines: a bar lookback limit of 500 bars.
Polylines: no bar lookback limit as only plotted on visible bars on chart, which uses multiple polylines are used.
█ Simple Explanation:
The Volume Spread Analysis (VSA) indicator is a comprehensive tool that helps traders identify key market patterns and trends based on volume and spread data. This indicator highlights significant VSA patterns and provides insights into market behavior through color-coded volume/spread bars and identification of bars indicating strength, weakness, and neutrality between buyers and sellers. It also includes powerful volume and spread forecasting capabilities.
█ Laws of Volume Spread Analysis (VSA):
The origin of VSA begins with Richard Wyckoff, a pivotal figure in its development. Wyckoff made significant contributions to trading theory, including the formulation of three basic laws:
The Law of Supply and Demand: This fundamental law states that supply and demand balance each other over time. High demand and low supply lead to rising prices until demand falls to a level where supply can meet it. Conversely, low demand and high supply cause prices to fall until demand increases enough to absorb the excess supply.
The Law of Cause and Effect: This law assumes that a 'cause' will result in an 'effect' proportional to the 'cause'. A strong 'cause' will lead to a strong trend (effect), while a weak 'cause' will lead to a weak trend.
The Law of Effort vs. Result: This law asserts that the result should reflect the effort exerted. In trading terms, a large volume should result in a significant price move (spread). If the spread is small, the volume should also be small. Any deviation from this pattern is considered an anomaly.
█ Volume and Spread Analysis Bars:
Display: Volume and spread bars that consist of color coded levels, with the spread bars scaled to match the volume bars. A displayable table (Legend) of bar colors and levels can give context and clarify to each volume/spread bar.
Calculation: Levels are calculated using multipliers applied to moving averages to represent key levels based on historical data: low, normal, high, ultra. This method smooths out short-term fluctuations and focuses on longer-term trends.
Low Level: Indicates reduced volatility and market interest.
Normal Level: Reflects typical market activity and volatility.
High Level: Indicates increased activity and volatility.
Ultra Level: Identifies extreme levels of activity and volatility.
This illustrates the appearance of Volume and Spread bars when scaled and plotted together:
█ Forecasting Capabilities:
Display: Forecasted volume and spread levels using predictive models.
Calculation: Volume and Spread prediction calculations differ as volume is linear and spread is non-linear.
Volume Forecast (Linear Forecasting): Predicts future volume based on current volume rate and bar time till close.
Spread Forecast (Non-Linear Dynamic Forecasting): Predicts future spread using a dynamic multiplier, less near midpoint (consolidation) and more near low or high (trending), reflecting non-linear expansion.
Moving Averages: In forecasting, moving averages utilize forecasted levels instead of actual levels to ensure the correct level is forecasted (low, normal, high, or ultra).
The following compares forecasted volume with actual resulting volume, highlighting the power of early identifying increased volume through forecasted levels:
█ VSA Patterns:
Criteria and descriptions for each VSA pattern are available as tooltips beside them within the indicator’s settings. These tooltips provide explanations of potential developments based on the volume and spread data.
Signs of Strength (🟢): Patterns indicating strong buying pressure and potential market upturns.
Down Thrust
Selling Climax
No Effort ➤ Bearish Result
Bearish Effort ➤ No Result
Inverse Down Thrust
Failed Selling Climax
Bull Outside Reversal
End of Falling Market (Bag Holder)
Pseudo Down Thrust
No Supply
Signs of Weakness (🔴): Patterns indicating strong selling pressure and potential market downturns.
Up Thrust
Buying Climax
No Effort ➤ Bullish Result
Bullish Effort ➤ No Result
Inverse Up Thrust
Failed Buying Climax
Bear Outside Reversal
End of Rising Market (Bag Seller)
Pseudo Up Thrust
No Demand
Neutral Patterns (🔵): Patterns indicating market indecision and potential for continuation or reversal.
Quiet Doji
Balanced Doji
Strong Doji
Quiet Spinning Top
Balanced Spinning Top
Strong Spinning Top
Quiet High Wave
Balanced High Wave
Strong High Wave
Consolidation
Bar Patterns (🟡): Common candlestick patterns that offer insights into market sentiment. These are required in some VSA patterns and can also be displayed independently.
Bull Pin Bar
Bear Pin Bar
Doji
Spinning Top
High Wave
Consolidation
This demonstrates the acronym and descriptive options for displaying bar patterns, with the ability to hover over text to reveal the descriptive text along with what type of pattern:
█ Alerts:
VSA Pattern Alerts: Notifications for identified VSA patterns at bar close.
Volume and Spread Alerts: Alerts for confirmed and forecasted volume/spread levels (Low, High, Ultra).
Forecasted Volume and Spread Alerts: Alerts for forecasted volume/spread levels (High, Ultra) include a minimum percent time elapsed input to reduce false early signals by ensuring sufficient bar time has passed.
█ Inputs and Settings:
Indicator Bar Color: Select color schemes for bars (Normal, Detail, Levels).
Indicator Moving Average Color: Select schemes for bars (Fill, Lines, None).
Price Bar Colors: Options to color price bars based on VSA patterns and volume levels.
Legend: Display a table of bar colors and levels for context and clarity of volume/spread bars.
Forecast: Configure forecast display and prediction details for volume and spread.
Average Multipliers: Define multipliers for different levels (Low, High, Ultra) to refine the analysis.
Moving Average: Set volume and spread moving average settings.
VSA: Select the VSA patterns to be calculated and displayed (Strength, Weakness, Neutral).
Bar Patterns: Criteria for bar patterns used in VSA (Doji, Bull Pin Bar, Bear Pin Bar, Spinning Top, Consolidation, High Wave).
Colors: Set exact colors used for indicator bars, indicator moving averages, and price bars.
More Display Options: Specify how VSA pattern text is displayed (Acronym, Descriptive), positioning, and sizes.
Alerts: Configure alerts for VSA patterns, volume, and spread levels, including forecasted levels.
█ Usage:
The Volume Spread Analysis indicator is a helpful tool for leveraging volume spread analysis to make informed trading decisions. It offers comprehensive visual and textual cues on the chart, making it easier to identify market conditions, potential reversals, and continuations. Whether analyzing historical data or forecasting future trends, this indicator provides insights into the underlying factors driving market movements.
Wyckoff Selection Method SP500RSI(Asset) - RSI(Index)
Useful to know if Asset is outperforming market in relative strength
Volume Spread Analysis [TANHEF]Volume Spread Analysis: Understanding Market Intentions through the Interpretation of Volume and Price Movements.
█ Simple Explanation:
The Volume Spread Analysis (VSA) indicator is a comprehensive tool that helps traders identify key market patterns and trends based on volume and spread data. This indicator highlights significant VSA patterns and provides insights into market behavior through color-coded volume/spread bars and identification of bars indicating strength, weakness, and neutrality between buyers and sellers. It also includes powerful volume and spread forecasting capabilities.
█ Laws of Volume Spread Analysis (VSA):
The origin of VSA begins with Richard Wyckoff, a pivotal figure in its development. Wyckoff made significant contributions to trading theory, including the formulation of three basic laws:
The Law of Supply and Demand: This fundamental law states that supply and demand balance each other over time. High demand and low supply lead to rising prices until demand falls to a level where supply can meet it. Conversely, low demand and high supply cause prices to fall until demand increases enough to absorb the excess supply.
The Law of Cause and Effect: This law assumes that a 'cause' will result in an 'effect' proportional to the 'cause'. A strong 'cause' will lead to a strong trend (effect), while a weak 'cause' will lead to a weak trend.
The Law of Effort vs. Result: This law asserts that the result should reflect the effort exerted. In trading terms, a large volume should result in a significant price move (spread). If the spread is small, the volume should also be small. Any deviation from this pattern is considered an anomaly.
█ Volume and Spread Analysis Bars:
Display: Volume and/or spread bars that consist of color coded levels. If both of these are displayed, the number of spread bars can be limited for visual appeal and understanding, with the spread bars scaled to match the volume bars. While automatic calculation of the number of visual bars for auto scaling is possible, it is avoided to prevent the indicator from reloading whenever the number of visual price bars on the chart is adjusted, ensuring uninterrupted analysis. A displayable table (Legend) of bar colors and levels can give context and clarify to each volume/spread bar.
Calculation: Levels are calculated using multipliers applied to moving averages to represent key levels based on historical data: low, normal, high, ultra. This method smooths out short-term fluctuations and focuses on longer-term trends.
Low Level: Indicates reduced volatility and market interest.
Normal Level: Reflects typical market activity and volatility.
High Level: Indicates increased activity and volatility.
Ultra Level: Identifies extreme levels of activity and volatility.
This illustrates the appearance of Volume and Spread bars when scaled and plotted together:
█ Forecasting Capabilities:
Display: Forecasted volume and spread levels using predictive models.
Calculation: Volume and Spread prediction calculations differ as volume is linear and spread is non-linear.
Volume Forecast (Linear Forecasting): Predicts future volume based on current volume rate and bar time till close.
Spread Forecast (Non-Linear Dynamic Forecasting): Predicts future spread using a dynamic multiplier, less near midpoint (consolidation) and more near low or high (trending), reflecting non-linear expansion.
Moving Averages: In forecasting, moving averages utilize forecasted levels instead of actual levels to ensure the correct level is forecasted (low, normal, high, or ultra).
The following compares forecasted volume with actual resulting volume, highlighting the power of early identifying increased volume through forecasted levels:
█ VSA Patterns:
Criteria and descriptions for each VSA pattern are available as tooltips beside them within the indicator’s settings. These tooltips provide explanations of potential developments based on the volume and spread data.
Signs of Strength (🟢): Patterns indicating strong buying pressure and potential market upturns.
Down Thrust
Selling Climax
No Effort → Bearish Result
Bearish Effort → No Result
Inverse Down Thrust
Failed Selling Climax
Bull Outside Reversal
End of Falling Market (Bag Holder)
Pseudo Down Thrust
No Supply
Signs of Weakness (🔴): Patterns indicating strong selling pressure and potential market downturns.
Up Thrust
Buying Climax
No Effort → Bullish Result
Bullish Effort → No Result
Inverse Up Thrust
Failed Buying Climax
Bear Outside Reversal
End of Rising Market (Bag Seller)
Pseudo Up Thrust
No Demand
Neutral Patterns (🔵): Patterns indicating market indecision and potential for continuation or reversal.
Quiet Doji
Balanced Doji
Strong Doji
Quiet Spinning Top
Balanced Spinning Top
Strong Spinning Top
Quiet High Wave
Balanced High Wave
Strong High Wave
Consolidation
Bar Patterns (🟡): Common candlestick patterns that offer insights into market sentiment. These are required in some VSA patterns and can also be displayed independently.
Bull Pin Bar
Bear Pin Bar
Doji
Spinning Top
High Wave
Consolidation
This demonstrates the acronym and descriptive options for displaying bar patterns, with the ability to hover over text to reveal the descriptive text along with what type of pattern:
█ Alerts:
VSA Pattern Alerts: Notifications for identified VSA patterns at bar close.
Volume and Spread Alerts: Alerts for confirmed and forecasted volume/spread levels (Low, High, Ultra).
Forecasted Volume and Spread Alerts: Alerts for forecasted volume/spread levels (High, Ultra) include a minimum percent time elapsed input to reduce false early signals by ensuring sufficient bar time has passed.
█ Inputs and Settings:
Display Volume and/or Spread: Choose between displaying volume bars, spread bars, or both with different lookback periods.
Indicator Bar Color: Select color schemes for bars (Normal, Detail, Levels).
Indicator Moving Average Color: Select schemes for bars (Fill, Lines, None).
Price Bar Colors: Options to color price bars based on VSA patterns and volume levels.
Legend: Display a table of bar colors and levels for context and clarity of volume/spread bars.
Forecast: Configure forecast display and prediction details for volume and spread.
Average Multipliers: Define multipliers for different levels (Low, High, Ultra) to refine the analysis.
Moving Average: Set volume and spread moving average settings.
VSA: Select the VSA patterns to be calculated and displayed (Strength, Weakness, Neutral).
Bar Patterns: Criteria for bar patterns used in VSA (Doji, Bull Pin Bar, Bear Pin Bar, Spinning Top, Consolidation, High Wave).
Colors: Set exact colors used for indicator bars, indicator moving averages, and price bars.
More Display Options: Specify how VSA pattern text is displayed (Acronym, Descriptive), positioning, and sizes.
Alerts: Configure alerts for VSA patterns, volume, and spread levels, including forecasted levels.
█ Usage:
The Volume Spread Analysis indicator is a helpful tool for leveraging volume spread analysis to make informed trading decisions. It offers comprehensive visual and textual cues on the chart, making it easier to identify market conditions, potential reversals, and continuations. Whether analyzing historical data or forecasting future trends, this indicator provides insights into the underlying factors driving market movements.
Numbers RenkoRenko with Volume and Time in the box was developed by David Weis (Authority on Wyckoff method) and his student.
I like this style (I don't know what it is officially called) because it brings out the potential of Wyckoff method and Renko, and looks beautiful.
I can't find this style Indicator anywhere, so I made something like it, then I named "Numbers Renko" (数字 練行足 in Japanese).
Caution : This indicator only works exactly in Renko Chart.
////////// Numbers Renko General Settings //////////
Volume Divisor : To make good looking Volume Number.
ex) You set 100. When Volume is 0.056, 0.05 x 100 = 5.6. 6 is plotted in the box (Decimal are round off).
Show Only Large Renko Volume : show only Renko Volume which is larger than Average Renko Volume (it is calculated by user selected moving average, option below).
Show Renko Time : "Only Large Renko Time" show only Renko Time which is larger than Average Renko Time (it is calculated by user selected moving average, option below).
EMA period for calculation : This is used to calculate Average Renko Time and Average Renko Volume (These are used to decide Numbers colors and Candles colors). Default is EMA, You can choice SMA.
////////// Numbers Renko Coloring //////////
The Numbers in the box are color coded by compared the current Renko Volume with the Average Renko Volume.
If the current Renko Volume is 2 times larger than the ARV, Color2 will be used. If the current Renko Volume is 1.5 times larger than the ARV, Color1.5 will be used. Color1 If the current Renko Volume is larger than the ARV . Color0.5 is larger than half Athe RV and Color0 is less than or equal to half the ARV. Color1, Color1.5 and Color2 are Large Value, so only these colored Numbers are showed when use "Show Only ~ " option.
Default is Renko Volume based Color coding, You can choice Renko Time based Color coding. Therefore you can use two type coloring at the same time. ex) The Numbers Colors are Renko Volume based. Candle body, border and wick Colors are Renko Time based.
////////// Weis Wave Volume //////////
Show Effort vs Result : Weis Wave Volume divided by Wave Length.
ex) If 100 Up WWV is accumulated between 30 Up Renko Box, 100 / 30 = 3.33... will be 3.3 (Second decimal will be rounded off).
No Result Ratio : If current "Effort vs Result" is "No Result Ratio" times larger than Average Effort vs Result, Square Mark will be show. AEvsR is calculated by 5SMA.
ex) You set 1.5. If Current EvsR is 20 and AEvsR is 10, 20 > 10 x 1.5 then Square Mark will be show.
If the left and right arrows are in the same direction, the right arrow is omitted.
Show Comparison Marks : Show left side arrow by compare current value to previous previous value and show right side small arrow by compare current value to previous value.
ex) Current Up WWV is 17 and Previous Up WWV (previous previous value) is 12, left side arrow is Up. Previous Dn WWV is 20, right side small arrow is Dn.
Large Volume Ratio : If current WWV is "Large Volume Ratio" times larger than Average WWV, Large WWV color is used.
Sample layout
VPSA - Volume Price Spread AnalysisDear Analysts and Traders,
I am pleased to present the latest version of my indicator, based on the logic of analyzing spread and volume. In this version, the indicator examines spread and volume using min-max normalization. The statistical value is captured through Z-Score standardization, and I have added configurable alerts based on the normalized values of spread, volume, and the sigmas for these variables.
Theory and Evolution of the Indicator
The normalization function used in this program allows for the comparison of two values with different ranges on a single chart. The values that reach the highest within the examined range are assigned a value of one. As in previous versions, I have adopted a bar chart where the wider bar represents volume and the narrower bar represents spread. I believe that using normalization is the most intuitive approach, as the standardization in the earlier sVPSA version could cause confusion. This was due to smaller bars for higher actual values and negative bars, which required additional reliance on actual volume data and significant proficiency in using the indicator. These were limitations stemming from the computational aspect of these issues. As in the previously mentioned script, I also used Z-Score standardization here, which serves as a measure of deviation from the mean. This is visualized in the script as the color of the bars, which in the default configuration are as follows: below one sigma - blue; above one sigma up to two sigmas - green; above two sigmas up to three sigmas - red; and above three sigmas - fuchsia. Additionally, I applied an exponential moving average in this indicator to minimize the influence of older candles on the mean. The indicator has been enhanced with configurable alerts, allowing for substantial control over the conditions triggering them. The alerts enable the definition of normalized variable values and sigma values. Furthermore, the program allows for the definition of logical dependencies for these conditions.
Summary
The program I have developed is a synthesis of the most important and useful functions from the indicators I previously created. The indicator is a standalone and powerful tool that facilitates effective analysis of the spread-volume relationship, which is one of the fundamental methods of analysis according to the Wyckoff and VSA methodologies. The alerts introduced in this version provide extensive possibilities for controlling the dynamics of any market.
Should you encounter any errors or have suggestions regarding the indicator, please feel free to contact me.
I wish you successful analyses! All the best!
CatTheTrader
Master Pattern [LuxAlgo]The Master Pattern indicator is derived from the framework proposed by Wyckoff and automatically displays major/minor patterns and their associated expansion lines on the chart.
Liquidity levels are also included and can be used as targets/stops. Note that the Liquidity levels are plotted retrospectively as they are based on pivots.
🔶 USAGE
The Master Pattern indicator detects contraction phases in the markets (characterized by a lower high and higher low). The resulting average from the latest swing high/low is used as expansion line. Price breaking the contraction range upwards highlights a bullish master pattern, while a break downward highlights a bearish master pattern.
During the expansion phase price can tend to be stationary around the expansion level. This phase is then often followed by the price significantly deviating from the expansion line, highlighting a markup phase.
Expansion lines can also be used as support/resistance levels.
🔹 Major/Minor Patterns
The script can classify patterns as major or minor patterns.
Major patterns occur when price breaks both the upper and lower extremity of a contraction range, with their contraction area highlighted with a border, while minor patterns have only a single extremity broken.
🔶 SETTINGS
Contraction Detection Lookback: Lookback used to detect the swing points used to detect the contraction range.
Liquidity Levels: Lookback for the swing points detection used as liquidity levels. Higher values return longer term liquidity levels.
Show Major Pattern: Display major patterns.
Show Minor Pattern: Display minor patterns.
Weis Wave-Wave TypesWeis Wave - Waves Types indicator
The Concept
This indicator has been created based on David's Weis theory of cumulative volume histograms but this indicator has been enhanced with additional wave types to be able to identify the following:
Visually identify the Effort vs Result concept (too much volume but small pip move or small volume too large pip move). Imbalance of Supply and Demand.
Be able to monitor how volume progresses within the wave, if it is increasing, decreasing or staying steady.
Identify easily the large volume waves using the emphasized volume algorithm to analyze the price reaction afterwards following the theory that Institutions participate on large volumes
What it does
This indicator draws cumulative histograms of 5 different wave types. Up swing histogram is when price goes up and down swing histogram is when price goes down. It adds the volume of each bar within the wave swing, it adds the pips of each bar within the wave swing , it adds the time of each bar within the wave swing, it measures if the volume rate is increasing or decreasing within the wave swing and emphasizes on larger volume volume waves by increasing their size for visual purposes.
How it does it
The length of each cumulative histogram is equal to each wave price swing. The price wave sensitivity can be adjusted by AutoSensitivity parameter (min value =2 and max value=11). The larger the number the more sensitive it is, which means more wave swings will be created. The selectable values for the wave type are: Volume, Pips, Time, Progressive Volume Rate or Emphasized Volume. Furthermore the width of the cumulative histogram bars can be adjusted as well as the color of the up and the down swings. Finally divider input values are available for volume and pip to decrease large numbers on the y-axis of the histograms.
Wave Type Detailed Explanation
Volume: the indicator adds the volume of each bar within the price wave swing and creates a cumulative histogram
Pips: the indicator adds the bar distance from open to close and creates a cumulative histogram of the net pip movement of the price swing
Time: adds the time of each bar within the price wave swing and creates a cumulative histogram
Progressive Volume Rate (PVR): measures the volume rate within each wave (if volume is increasing or decreasing or staying steady as the wave progresses)
Emphasized Volume: the indicator adds the volume of each bar within the price wave swing and creates a cumulative histogram but contains an algorithm that emphasizes the large waves.
How to Use
Draw Support/Resistance and Fib - Monitor carefully the cumulative histograms at these levels. Usually supply and demand imbalance happens at this level.
First and most important of all adjust AutoSesnsitivity to get your swings correct. Getting the correct swings means waves are catching the tops and bottoms of each price wave swings.
Then identify potential trades by:
1. Comparison of cumulative Volume histogram vs Pip histogram which makes the concept of Wyckoff "Effort versus Result" identifiable, lot's of volume with small pip move = lot's of effort vs with small result. Supply and Demand imbalance.
2. Monitor Progressive Volume Rate histogram which measures if the volume rate is increasing, decreasing or remains steady within the price wave swing. This histogram indicates more or less participation as price increases or decreases within the specific wave. For example increase of volume rate as price goes up could mean more participation which could mean that sellers might be entering. Also the opposite is valid increasing volume rate as price goes down could mean that buyers are entering.
3. Emphasized Volume waves, provide a visual emphases on large volume waves only, useful for traders that like to trade with high volume trends and for traders that believe that in large volume waves large institutes participate. Trade with price trend but also with the volume trend concept.
What makes it unique
This indicator is an advance cumulative wave histogram because apart the regular volume histogram and apart form using each wave type individually to make a decision it provides more confidence and becomes more powerful when confluence is used combining the other wave types and by using the strategies mentioned above to a higher probability trade. Some examples are shown below
Example of Effort vs. Result Concept
Example of Progressive Volume Rate
Example of Emphasized Volume
Function Square WaveThis is a script to draw a square wave on the chart, with an indicator for current price.
Markets undergoing Dow Jones or Wyckoff Accumulation/Distribution cycles tend to move in such waves, and if the period of the cycles are detected, a signal for accumulation/distribution phases can be created as an early warning.
Useful inputs:
- Average True Range as the wave height.
- Assumed Wave period as the wave duration.
I divided the current price wave by 2 to make the indicator more visually friendly.
GLHF
- DPT
Dual Weis Wave VolumeIt took but left, a Weis wave volume that shows the main wave and the fractal wave, thinking of everyone who wants to save space with indicators, you can adjust 2 indicators within 1, it is the dual indicator.
This indicator calculates the volume waves, being created initially by David Weis, largely behind the wyckoff method that unfortunately died, being very useful in reading flow, replacing even Times in Trades in Tape Reading, since he makes the information more accurate visually.
The novelty is the addition of a fractal flow, that is, if the main one misses an information, the fractal will show, in addition to saving space to add another indicator and not the same with other values.
WR Quantum Wyckoff Robo BursaBURSA Malaysia trading robot alert is built based on WR Quantum Wyckoff Technique strategy.
The alert is suitable to use in BURSA Saham.
The script will identify accumulation candle (box) at specific timeframe and will advice entry value and calculate advice take profit and stop loss based on % settable in the preset.
Once entry is confirm, script will popup one label with detail of Long Entry Condition or Short Entry Condition.
This is an example of Long Entry Condition :
Disclaimer:
This is a stock trading strategy that involves high risk of equity loss, You agree to use this script at your own risk.
If you have any suggestions, comments or interested to use this script, kindly PM us to obtain an access.
Renko Weis Wave VolumeA volume bulls vs bears power indicator that is based entirely on Wyckoff Weis Wave Volume trends. This indicator is part of my DIVINE series RENKO indicators that run on an engine capable of extracting Renko brick information from a time series. As with the Renko RSI and Renko Trend Momentum indicators, swapping between Renko and time series type charts(bar, candlestick , heikin ashi) is seamless.
The algorithm uses the cumulative volume sum during the lifetime of a Renko brick formation. It tries hard to dissect and distribute volume when multiple bricks are formed during a single time candle (bar, candlestick , heikin ashi). Both positive and negative volume are plotted simultaneously, so that any instance where multiple bricks are created in a single time candle, positive and negative volume will be shown.
4 color themes as with all of the other DIVINE series indicators and strategies.
Shows ares of accumulation, distribution, capitulation. volatility .
Shows volatile brick locations with counts that indicate the number of nested bricks that were contained in a single time based candle.
Works well with Renko Price Bars Overlay script.
Reference to explanation of volatile brick information tips.
All feature requests are welcome. PM for access.
LT Cycle Analysis - S&P500This script aims to identify bullish and bearish trend of the US market.
For traders to identify a Bullish or Bearish market and trade according to the market trend.
Always Long in a Bullish market and Short in a Bearish Market. 1st step of Wyckoff Market Approach.
Phoenix Ascending 2.201Hi Everyone!
It's time to make this indicator public to relieve myself of replying to requests for access. There has been an update to this indicator; in which a Stochastic RSI was added to this indicator. Please follow the directions to SETUP the indicator in the SETUP VIDEO provided below.
Phoenix Ascending 2.201 and Bollinger Bands Setup Video.
The following are BASIC rules for the Phoenix 2.201 Indicator. More advanced rules and the requirements for those rules can be found in my publications in my public profile. Unfortunately, I do not have organized videos created on how to use this indicator in full but will be available in the future.
IMPORTANT: The BASIC rules below are beneficial but these are NOT all the rules. More rules and requirements for those rules will be available in the future.
RULE NO. 1
We PREFER the Blue LSMA to be at 80% or higher for SAFE EXIT (SHORT) bets.
We PREFER the Blue LSMA to be at 20% or lower for SAFE ENTRY (LONG) bets.
Rule No. 2
ANY time the red line is approaching a green line that’s moving UPWARD,
Be prepared to make an ENTRY (LONG) when the red line is about to touch the green line that’s moving upward.
One can look at a lower time frame to get a better idea of how much longer you may have
To wait for the red line to touch the green line. In many cases, you may make ENTRY (LONG)
Just before the red line actually touches the green line that’s moving up in that higher time frame
You were initially using as your COMPASS. I currently have the 1-Month TF as a compass for EURUSD.
Rule No. 3
ANY time the red line is approaching a green line that’s moving DOWNWARD,
Be prepared to make an EXIT (SHORT) when the red line is about to touch the green line that’s moving downward.
One can look at a lower time frame to get a better idea of how much longer you may have
To wait for the red line to touch the green line. In many cases, you may make your EXIT (SHORT)
Just before the red line actually touches the green line that’s moving downward in that higher time frame
You were initially using as your COMPASS. I currently have the 1-Month TF as a compass for EURUSD.
Rule No. 4
The Green Line and/or Ghost Line can often help one determine when an upward or downward move in a particular time frame
Is nearly exhausted and about to reverse.
Example for Upside Exhaustion about to reverse to the Downside:
When the Green Line and/or Ghost line is at 80% level or higher, this is a good indicator to inform
Us the current upside move may be approaching exhaustion. You can look at a higher time frame to try to gain
More insight as to whether this will only be a brief dip down in the lower time frame IF the higher time frame you
Went to reveals there is a lot more room remaining for the Green and/or Ghost Lines to reach the 80% or higher level.
Example for Downside Exhaustion about to reverse to the Upside:
When the Green Line and/or Ghost line is at 20% level or lower, this is a good indicator to inform
Us the current downside move may be approaching exhaustion. You can look at a higher time frame to try to gain
More insight as to whether this will only be a brief dip up in the lower time frame IF the higher time frame you
Went to reveals there is a lot more room remaining for the Green and/or Ghost Lines to reach the 20% or lower level.
Rule No. 5
The same rules you see in Rule No. 4 also apply to the Stochastic RSI. Keep in mind I changed the colors of the
Stochastic RSI to the following: Red default changed to Purple and Blue changed changed to Black to avoid confusing
Them with the lines in Godmode.
When the Stochastic RSI is at 80% or higher level, we need to be on guard for a reversal to the downside.
When the Stochastic RSI is at 20% or lower level, we need to be on guard for a reversal to the upside.
EXTREMELY IMPORTANT to apply these rules in GROUPS OF TIME FRAMES.
"TYPES" OF TIME FRAME GROUP TRADING SIGNALS
Scalping Group Signals: Signals provided for this group involve analyzing the following two groups of time frames. Short Term Group as a compass and Scalping Group for confirmation and more precise entry/exit.
Scalping Group: 6min. 12min. 23min & 45min.
Short Term Group: 90min. 3hr. 6hr. & 12hr.
Short Term Group Signals: Signals provided for this group involve analyzing the following two groups of time frames. NearTerm Group as a compass and Short Term Group for confirmation and more precise entry/exit.
Short Term Group: 90min. 3hr. 6hr. & 12hr.
Near Term Group: 24hr. 2-Day, 3-Day & 4-Day
Near Term Group Signals: Signals provided for this group involve analyzing the following two groups of time frames. Mid Term Group as a compass and Near Term Group for confirmation and more precise entry/exit.
Near Term Group: 24hr. 2-Day, 3-Day & 4-Day
Mid Term Group: 3-Day, 6-Day, 9-Day & 12-Day
Mid Term Group Signals: Signals provided for this group involve analyzing the following two groups of time frames. Long Term Group as a compass and Mid Term Group for confirmation and more precise entry/exit.
Mid Term Group: 3-Day, 6-Day, 9-Day & 12-Day
Long Term Group: 1-Week, 2-Week, 3-Week & 4-Week
Long Term Group Signals: Signals provided for this group involve analyzing the following two groups of time frames. Macro Term Group as a compass and Long Term Group for confirmation and more precise entry/exit.
Long Term Group: 1-Week, 2-Week, 3-Week & 4-Week
Macro Term Group: 1-Month, 2-Month, 3-Month & 4-Month
Macro Term Group Signals: Signals provided for this group involve analyzing the following two groups of time frames. Macro Term Group as a compass and Long Term Group for confirmation and more precise entry/exit.
Macro Term Group: 1-Month, 2-Month, 3-Month & 4-Month
Super Macro Group: 3-Month , 6-Month, 12-Month & 24-Month
Bollinger BandsHi Everyone!
User @three333 took the time to create this script with the multiple Bollinger Bands all combined together while I've been busy with other projects. This will make it easier to apply all the bands much faster. If you need this script, you have a better chance of receiving an invite much faster by sending me a PM.
Remember, this Bad Ass BB is to be used with my Phoenix 1.119 indicator for best results.
NOTE: I do NOT give one-on-one education in PM's or in public rooms. Nor do I give trading advice in PM's. I'm often too busy to allow my time to be absorbed by multiple PM's from multiple people each day. No disrespect intended by this notification. You would understand if you were in my shoes.
Happy Trading and Stay Awesome!
David
Phoenix 1.118no-multiThere was a conflict with the older Phoenix 1.118 involving an update on TradingView platform with BTCE exchange being removed from their database. Since BTCE exchange was used in the old Phoenix 1.118 script, I had to edit the script. As most of you know, I recommend NOT using this indicator in Multi-Exchange Mode. So, to avoid any conflict in the future with this script in the future due to an exchange being removed from TradingView's database; I've eliminated the "Multi-Exchange" function entirely.
I still recommend using Phoenix 1.119 instead of Phoenix 1.118. However, if you still prefer to use Phoenix 1.118, you need to send me a PM (Personal Message) requesting an invite. If you request an invite in the comments section, it may take longer for me to reply to your request.
The main difference with Phoenix 1.118 and 1.119 is Phoenix 1.118 has Pressure Dots applied differently from Phoenix 1.119.
One can make a living working hard on their job. One can make a fortune working hard on themselves! So, keep LEARNING and Stay Awesome!
Happy Trading and Stay Awesome!
Phoenix 1.119 - BTCUSD WITH 44% AND 56% LEVELS ADDEDThe purpose of this script is to get the Caution Dots back to original Godmode with the Red RSI rather than Caution Dots oriented on the Green Line like it's done in Phoenix 1.118. I prefer the Caution Dots oriented with the Red RSI. You may have to REFRESH YOUR BROWSER after receiving an invite to this indicator.
I'm trying to provide every possible resource I have devoted to the Phoenix 1.119 indicator below...
You can follow this video below for a basic setup of the Phoenix 1.119 indicator:
"Setup Phoenix 1.119 Script With Phoenix Ari 1.07 & Stochastic RSI."
The Publications linked below are a few EDUCATIONAL VIDEOS on how to use the Phoenix 1.119 indicator:
"BTCUSD - EDUCATION for My Followers... IMPORTANT..."
"BTCUSD - IMPORTANT - "EDUCATION" ON THE 44 PERCENT (%) RULE!"
The follow CHART Publication has IMPORTANT "BASIC" RULES in comments section. Scroll down in comments section to see the FIVE BASIC RULES FOR GODMODE (Phoenix 1.119):
"Using Godmode 3.1 mod with LSMA "merged" with Stochastic RSI."
"How to Setup an Alarm for Indicators Inside Phoenix 1.119."
The following is a current STUDY that is on-going; titled, "STUDY" to See if "CAUTION DOTS" Can Be of Use in Phoenix 1.119."
If you request access and I do not give it, SEND ME A PM to request access. I'm taking my son outside now to help him with his new bike.
Phoenix 1.391This is a modified version of Phoneix 1.118 with different inputs and additional Relative Strength Index (RSX). It also measures pressure of different HOT (Red Dot - Upward Pressure) or COLD (Blue Dot - Downward Pressure) values. It may be better suited for higher time frames but we will see.
If you are new to trading and do not know how to even setup a chart, you may want to watch the following video in which I explained setting up with Phoneix 1.118 and Phoenix ARI 1.07 "merged" with Stochastic RSI. However, Phoneix 1.391 is not in the video but the video should be suitable enough for you to get an idea of what to do to get it on your chart if you are new to charting.
By the way, you may need to refresh your browser after an "invite" in order to see this indicator in your "Invite-Only Scripts."
Here's the video:
Phoenix 1.118Do not use the "Multi-Exchange" option in "Inputs." Leave it unchecked and NEVER use it.
Go to "Format" and "Style" tab then "un-check" "Buy" and "Sell." Leave them turned off. This was a failed experiment to TRY to create "Buy" and "Sell" signals with the indicator.
You will likely need to experiment with the COLORS you want for all the lines and levels. Especially, if you are using a background that's not white. You may also wish to consider making most of the lines THICKER. Once you have the colors and thickness of all the lines and caution dots to your liking, be sure to click the "default" tab in the bottom left corner of "Style" tab and select "Set As Default." This way, you will not have to set the colors, thickness of lines, etc... to your liking every single time you create a new chart.
As for learning how to use this indicator; it's not much different at all from Godmode 3.1 Mod with LSMA (LTCUSD). It can be used on most ANY crypto pair, stock, bond, commodity, futures and FOREX market. Be sure to study the publication (below) for Godmode 3.1 Mod with LSMA (LTCUSD). Once you've studied it, then it would not be a bad idea to watch as many of my VIDEO publications in an effort to pick up on how to understand this indicator even more. Don't forget to pay attention to the FIVE (5) BASIC RULES FOR GODMODE in the publication below.
I recommend getting a PRO account in order to use multiple charts on a single window in your browser. I also recommend getting a PRO account to be able to select many more time frames of your choosing in order to do a more thorough analysis. It's also recommended to use Stochastic RSI and Phoenix ARI in conjunction with this indicator. Phoenix ARI is NOT public. It is an invite only script under my control just as Phoenix 1.118. Simply ask for an invite. ; )
If you do use Phoenix 1.118 with Stochastic RSI and Phoenix ARI, they should all be configured in the following formation provided in the chart below.
Phoenix Ari 1.07Phoenix ARI 1.07:
This indicator works similar to Stochastic RSI. However, this indicator tends to reveal the sentiment/pressure of the market within a selected time frame without as much sensitivity to price action movement. Stochastic RSI is more sensitive to price action movement. Not this indicator.
I recommend MERGING this indicator with Stochastic RSI. Feel free to go to "format" and "style" to edit the colors, thickness of the lines, etc... All of these indicators may be useable in this publication without having to MERGE anything. I'm not sure...
The Phoenix ARI indicator in particular will be available only to paid subscribers with my future website affiliation to go along with educational materials on that website...
BTC Composite Man V.1Wyckoff's theory t is one of the most influential theories of market expression, and the most important components of which are lateral movement areas and trends. This theory turns the graph into something like Dots and lines (stations and paths).
After getting acquainted with Wyckoff's theory, I read several books on the subject, hoping that they could help me identify this area of lateral movement, the area of accumulation, or distribution. But there was a fundamental drawback. It is challenging to diagnose this issue. The rules discussed in these books are highly interpretive and subjective, and two different individual traders may come to exactly opposite conclusions based on their interpretation.
But as I became more familiar with the onchain analysis, an idea came to my mind that might be useful for more objectively recognizing charts based on Wyckoff's theory.
Composite Man: Wyckoff proposed a theory to help understand stock price movements. this is the “Composite Man” theory. (The same concept of whales or strong hands.)
he said: “…all the fluctuations in the market and all the various stocks should be studied as if they were the result of one man’s operations. Let us call him the Composite Man, who, in theory, sits behind the scenes and manipulates the stocks to your disadvantage if you do not understand the game as he plays it; and to your great profit if you do understand it.” (The Richard D. Wyckoff Course in Stock Market Science and Technique, section 9, p. 1-2)
Composite Man is a hypothetical man who has so much money and stocks that when he wants he can gradually increase the price by buying stocks and creating demand, and when the price goes high enough he sells his stock and lower the price. The composite man is the main player in the market. Wyckoff says that if you want to make a good profit from the market, figure out what a composite man game is.
Having a way of showing us where the Composite Man is in the market, can help us understand future trends
Who are the strong hands in the cryptocurrency market? (I use the strong hand word here instead of the composite man)
Some buy or sell more per capita than other market participants (retailers).
To understand this in the bitcoin market, I have used 3 charts and concepts:
1- Sending Addresses: The number of coins addresses making inflow transactions to the exchange.
Indicates the number of sellers' wallets (number of sellers)
2- buyers Addresses: The number of coins addresses making outflow transactions from the exchange.
Indicates the number of buyers' wallets (number of buyers)
3- Pay attention to this issue: the volume of transactions shows both the volume of sales and the buy ( Volume of buy and sale is equal in the market)
The Composite Man indicator is created by dividing the Receiving Addresses of bitcoin by the Sending Addresses. After dividing these addresses, the moving average of Alma was calculated for them and compared with the moving average of 100 days.
Considering the above 3 issues, it can be concluded:
- If the number of Receiving Addresses is higher than the Sending Addresses (the number of people who bought compared to the number of those who sold), it indicates that more people bought and fewer people sold (given that the volume of sales and buys are the same) So the sellers were stronger hands. In such a situation, the composite man is on the sales side.
- If the number of Sending Addresses is higher than the Receiving Addresses (number of people who have sold more than the number of people who have bought), it indicates that more people have been sellers and fewer people have been buyers (given that the volume of sales and buys are the same) so the buyers were stronger hands. In such a situation, the Composite man is on the buying side.
Accordingly, if the swing line is above the 100-day moving average line, it indicates that stronger addresses are being sold and retailers are buying, and vice versa.
Wyichi AI 4.0Wyckoff logic : " Charles H. Dow and his colleague Edward Jones (Dow Jones & Company since 1882). The Dow Theory's final tenet is, "Trend Remains In Effect Until Clear Reversal Occurs." Dow Theorists look for "failure swings" and confirmations to give unambiguous signals of trend fatigue or trend reversal, according to this concept. Any pattern, whether it's a continuation pattern like a Flag Formation or a reversal pattern like Head & Shoulders , is designed to repeat itself over and over again."
Ichimoku : " An Ichimoku practitioner should be able to get a quick sense of sentiment, momentum, and trend strength by looking at an Ichimoku chart , Hosada was a fervent belief that market dynamics or behavior reflected human group dynamics. He felt that human conduct in their lives and relationships might be defined as a continual cyclical movement away from and back toward balance. "
Wyckoff + Ichimoku = Institutional Footprints ( Trade with the banks)
Indicator use Wyckoff pattern ( APD ) and Ichimoku pattern ( Phase ).... or Bermuda Triangle Pattern
Wyckoff Trading Strategy for XAU/USD by KAIZVIETNAMXAU/USD TF M15 TP SL 20-30 pip
- Volume: Calculates the average volume based on the SMA to compare with the current trading volume.
- ATR (Average True Range): Calculated to determine price volatility.
- Support and Resistance Levels: Identifies support and resistance levels over the last 10 trading sessions.
Specific Point Identification
- A series of functions are defined to detect critical phases in the market structure, such as:
- Finding Preliminary Support: Recognizing signals of accumulation near support levels.
- Finding Selling Climax: Detecting signals of profit-taking near resistance levels.
- Finding Last Point of Support: Identifying points that provide stability for the price.
- Finding Preliminary Supply: Recognizing supply signals near resistance levels.
- Finding Buying Climax: Identifying strong buy signals accompanied by high trading volume.
- Finding Sign of Weakness: Determining instances of price adjustments that could lead to declines.
Market State Identification
- Accumulation: When the closing price is situated between the support and resistance levels.
- Distribution: When the closing price approaches the highest level of the previous few sessions.
- Sideways: When there is no clear bias toward either an upward or downward trend.
Buy and Sell Signals
- Buy Signals: Determined through finding preliminary support, selling climax, and last point of support.
- Sell Signals: Determined through finding preliminary supply, buying climax, and signs of weakness.
