OPEN-SOURCE SCRIPT
Vector Candles
Title: Vector Candles Indicator with PVSRA
Short Description: Visualize climax and above-average volume candles using PVSRA method for trend reversals and significant moves.
Long Description:
The Vector Candles Indicator with PVSRA (Price, Volume, Support, and Resistance Analysis) is designed to help traders visualize climax and above-average volume candles on the chart, which can indicate potential trend reversals and significant market moves. This indicator is suitable for various financial instruments, including stocks, forex, and cryptocurrencies.
This script uses the PVSRA method to determine the candle colour based on volume and price action. By analysing the relationships between price, volume, and support/resistance levels, it allows traders to better understand the market dynamics and make informed decisions.
The indicator displays candles in different colours to represent the volume and price action:
Climax Up (Lime): Bullish candle with high volume
Climax Down (Red): Bearish candle with high volume
Above Average Up (Blue): Bullish candle with above-average volume
Above Average Down (Fuchsia): Bearish candle with above-average volume
Normal Up (Gray): Bullish candle with normal volume
Normal Down (Dark Gray): Bearish candle with normal volume
The script is designed to work on the TradingView platform and is based on original contributions by plasmapug, infernix, peshocore, and xtech5192. It has been modified RapidFireOG for easy integration into your trading setup.
Add this powerful tool to your chart and enhance your trading analysis with the Vector Candles Indicator with PVSRA.
Short Description: Visualize climax and above-average volume candles using PVSRA method for trend reversals and significant moves.
Long Description:
The Vector Candles Indicator with PVSRA (Price, Volume, Support, and Resistance Analysis) is designed to help traders visualize climax and above-average volume candles on the chart, which can indicate potential trend reversals and significant market moves. This indicator is suitable for various financial instruments, including stocks, forex, and cryptocurrencies.
This script uses the PVSRA method to determine the candle colour based on volume and price action. By analysing the relationships between price, volume, and support/resistance levels, it allows traders to better understand the market dynamics and make informed decisions.
The indicator displays candles in different colours to represent the volume and price action:
Climax Up (Lime): Bullish candle with high volume
Climax Down (Red): Bearish candle with high volume
Above Average Up (Blue): Bullish candle with above-average volume
Above Average Down (Fuchsia): Bearish candle with above-average volume
Normal Up (Gray): Bullish candle with normal volume
Normal Down (Dark Gray): Bearish candle with normal volume
The script is designed to work on the TradingView platform and is based on original contributions by plasmapug, infernix, peshocore, and xtech5192. It has been modified RapidFireOG for easy integration into your trading setup.
Add this powerful tool to your chart and enhance your trading analysis with the Vector Candles Indicator with PVSRA.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.