OPEN-SOURCE SCRIPT
MarketVision B
Updated
With Special Thanks to Everyone who has gone before me, and who have both allowed me given me permission to bring my version of Market Cipher to the World
Especially LazyBear for his amazing Wave Trend Oscillator and for Aevir, falconCoin, vumanchu, Crypto_Spike and others who have freely brought MarketCipher to the Tradingview Community
Also special mention to RicardoSantos for his Divergence script
MarketVision B - My take on MarketCipher B / Market Cipher B, Ive just put outlines on the Wave Trend to add to the Visual Appeal and Added a Trend Meter and a few more options for the Oscillators
Nice To Look At
Oscillator 1 Choose Between - RSI, MFI and Ultimate Oscillator
For Stochastics Choose Between Standard and RSI Stochastics and for the source you can choose On Balance Volume
Wave Trend
Money Flow
Trend Meter & Signals Bar
Divergences are marked, However they are easy to spot and it is better to train your eyes to spot them before the indicator marks them out
Lots of Alerts and Loads of ways to trade using MarketVision
PS: You can make this look like the original by adjusting the parameters in the menu
Especially LazyBear for his amazing Wave Trend Oscillator and for Aevir, falconCoin, vumanchu, Crypto_Spike and others who have freely brought MarketCipher to the Tradingview Community
Also special mention to RicardoSantos for his Divergence script
MarketVision B - My take on MarketCipher B / Market Cipher B, Ive just put outlines on the Wave Trend to add to the Visual Appeal and Added a Trend Meter and a few more options for the Oscillators
Nice To Look At
Oscillator 1 Choose Between - RSI, MFI and Ultimate Oscillator
For Stochastics Choose Between Standard and RSI Stochastics and for the source you can choose On Balance Volume
Wave Trend
Money Flow
Trend Meter & Signals Bar
Divergences are marked, However they are easy to spot and it is better to train your eyes to spot them before the indicator marks them out
Lots of Alerts and Loads of ways to trade using MarketVision
PS: You can make this look like the original by adjusting the parameters in the menu
Release Notes
Major ChangesChanged Defaults for cleaner look and turned on Money Flow Outline as most YouTube Tutorials utilise this for their strategies
Changed Stochastic Color to blue to be easier on the eyes
Added Long Term K Double Stochastic option
Modified Alerts
Release Notes
Added option for another Double Stochastic valueAdded Alert for RSI Signal Line Color Change
Changed Money Flow
Release Notes
Added more options for Money FlowIn my testing I have found that the absolute best Money Flow is indicated by the RSI being above or below 50 (Please note that for MFI and RSI the 50 line gets shifted down to the Zero line for the Money Flow indicator).
I have turned the Money Flow on by default for this version though if you have the RSI turned on for Oscillator 1 you will be able to turn the Money Flow off and just look if the RSI (Oscillator 1) is above or below the 50 line
Release Notes
As per request Changed Money Flow settings to SMA 60 to match Money Flow on similar indicatorsRelease Notes
Major UpdateAdded Williams %R option for oscillator 1
Fixed money flow
Adjusted settings and defaults
Release Notes
Optimised Trend Meters and Trend Meter SetupsRelease Notes
Adjusted DefaultsRelease Notes
Converted to Pine Version 4 - Unfortunately V4 allows less outputs so I have had to remove Divergences from Oscillator 1 and Most Alerts - Alerts can still be found in MarketVision AUpdated settings Menu to make it more user friendly (Thanks to Pine V4)
Changed the Overall Look of the Indicator
Made Wave Trend Divergences Adjustable
Added More Options for Money Flow - Please Try the New 'Dynamic Money Flow' it is Volume Based and works very well for confirming Money Flow
Release Notes
Adjusted brightness of of Wave Trend Blue WaveRelease Notes
Adjusted Trend Meter Brightness - Version 4 Conversion changed some of the colorsRelease Notes
Pine Version 4 Introduced Limits To The Number of Outputs That Can Be Displayed For This Reason I have Added The Ability to Apply The Short Term Divergences Intended For Stochastics onto the Wave Trend Instead
This Results in The Wave Trend Displaying Both A Short Term Divergence and a Longer Term Adjustable Divergence
Release Notes
Added 'Double RSI's' Derived From The Original MarketCipher B 'Double RSI's' are infact Not RSI's at all but actually Pseudo RSI's
They consist of a Fast and a Slow Standard Stochastic K
Fast K = 40 and Slow K = 81"
When selecting 'Double RSI's' for Oscillator 1 you may want to untick the Stochastics to make the 'Double RSI's' easier to see and to unclutter the indicator
Release Notes
Adjusted transparency of Back Ground Level Lines to make it easier on the eyes Stochastic Default changed to RSI Stochastic which has a longer length by default - This helps you spot divergences easier and means that the chart is less clogged up
Release Notes
Adjusted Stochastic setting to 13 Enhanced code
Release Notes
Changed Wave Trend Wave 1 Fill Characteristics to be nicer on the eyes in dark modeRelease Notes
Enhanced the look of the Money Flow Trend MeterRelease Notes
Added Signal for when Trend Meter Signal Lines up with Wave Trend Cross Release Notes
Added Indication for Positive or Negative Pressure Release Notes
Changed Color of Pos/Neg Pressure DotsRelease Notes
Updated chartRelease Notes
Updated settings Release Notes
Changed the size of the dots within the Wave TrendOpen-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.