Alchemy - Bubble Finder - Daily Indicator

Jun 26, 2021

This is the beginning of my bubble indicator.

This was just getting down the price component next update will include:

- Volume cross-verification - average volume peak increasing?
- Bars since high - most important piece
- Bubble ending alert, increased spacing between new highest bars.

Jun 26, 2021

Release Notes

Fixing Gold Colouring IF Statement

Jun 28, 2021

Release Notes

Thank you to Wilson IV I borrowed your code for distance to ATH. ;)

Added If statement to compare average distance to ATH from x bars ago, to give us another indication of whether a bubble is starting to inflate.

I have removed the Bubble Alert for the time being but will add it in again later once I can get it to only run once.

Moving average color - one yellow = good - two yellow = very good - grey fill = GTF out

Next up is adding volume into the equation.

Jun 28, 2021

Release Notes

Added volume component based on code used for Price ATH.
Looks for ATH in volume and compares max to prior period.
If it is = or less then we know volume has not increased recently and so the bubble may be ending.
Dark colour = volume increasing and White = volume decreasing.

Jun 28, 2021

Release Notes

Inequalities were wrong. conflicted on whether or not Indicators should only turn on when max becomes new ATH.

Tip, if there isn't enough data to for the indicator to display you should go to the 4hr chart.

Jul 5, 2021

Release Notes

I separated the script from the area indicators.

Many of you were raging in my private messages about the plot area indicator being done like a complete idiot...

Here you are they are now separate.

I also included that sudden downward shifts in price will turn off the glow of bullishness, as we know sudden drops in price usually come in pairs so I tried to add that in using simple maths.

Happy trading.