Frankie Candles Essentials [LuxAlgo]The Frankie Candles Essentials toolkit is a collection of essential features used by trader Frankie Candles. This toolkit focuses on the relationship between MTF oscillator divergences and volume profiles, allowing the detection of different kinds of reversals. Retracements from the "Golden Pocket" features are also included.
🔶 USAGE
When adding the script to your chart you will be prompted to select the calculation interval of the "Top-Down Volume Profile", simply click on your chart where you want the starting and ending points of the calculation interval.
🔹 Top-Down Volume Profile
The Top-Down Volume Profile is a classical fixed-range volume profile and highlights the amount of traded volume within equidistant price areas. The amount of areas is determined by the "Rows" setting (Note that the volume profile can use up to 250 rows).
The value area (VA) highlights the area where the specified percentage of the total volume is traded, that is the area with the most recorded trading activity relative to a selected percentage.
Finally, the point of control (POC) highlights the price level with the most trading activity.
🔹 Divergences
Users can highlight divergences made by oscillators on their charts. The toolkit includes three indicators such as RSI, MFI, and WaveTrend with MTF support, users can also select external oscillators but these will not support MTF divergence detection.
Once the Top-Down Volume Profile is set historical divergences will be affected by its value area (VA), with bearish divergences located above the upper VA or bullish divergences located under the lower VA being highlighted with a sauce can, a signature display stel of Frankie Candles.
Users can also filter out divergences based on the point of control (POC) using the "Filter According To POC" setting, with bearish divergences located below the POC or bullish divergences located above it being filtered out.
Do note that divergences are detected N bars after their occurrence, where N is the divergence lookback setting
🔹 Golden Pockets
The script includes an MTF Golden Pockets feature displaying Fibonacci retracements on the user chart, these can be used to identify optimal trade entries (OTE) or serve as support/resistance levels.
Golden Pockets are based on maximum/minimum prices in a window determined by the "Golden Pocket Lookback" setting, using longer-term lookbacks will return longer-term divergences, this will also be the case when using HTF golden pockets.
🔶 SETTINGS
🔹 Candle Coloring
Candle Coloring: Determine the candle coloring method used by the indicator. "Simple" will color the candles based on the candle body, while "Golden Pocket" will color candles using a gradient based on the golden pocket rolling maximum/minimum.
🔹 Top-Down Volume Profile
Top-Down Volume Profile: Enable Top-Down Volume Profile.
Rows: Amount of rows used by the Top-Down Volume Profile.
Width (%): Controls the histogram bar width as a percentage of the calculation window specified by the user set anchors.
Value Area (%): Area where the specified percentage of total volume is traded.
Extend To The Right: Extends the calculation window from the first anchor to the most recent bar.
🔹 MTF Divergences
Oscillator: Determines the oscillator and its length used for divergence detection. Options include "RSI", "MFI", "WaveTrend" and "External".
Divergence Lookback: Lookback period used to track oscillator tops/bottoms. Divergence will be detected n bars after an oscillator top/bottom, where n is the specified lookback period.
External Oscillator: External oscillator used for divergence detection if "External" is selected in the "Oscillator" dropdown menu, incompatible with Divergence Timeframe setting.
Divergence Timeframe: Timeframe used to calculate the selected oscillator and detect divergences. Incompatible with external oscillators.
Divergence From: Determines if price tops/bottoms evaluated to detect divergences are based on wicks (high/low price) or candle body (closing/opening price).
Filter According To POC: Filter displayed divergences based on the Top-Down Volume Profile POC.
Show Hidden: Display hidden divergences.
Show Sauce: Display canned source emoji on specific divergences.
🔹 Golden Pockets
Golden Pocket Lookback: Period used to calculate golden pockets, options include "Short-Term", "Medium-Term", and "Long-Term".
Extend: Extend Golden Pockets lines from the most recent bar by the specified amount of bars.
Golden Pocket Timeframe: Timeframe used to calculate the Golden Pockets.
Retracements: Display specific retracements, users can also control the ratio from the provided numerical setting.
Show Coordinate Line: Display a line connecting the top/bottom used to calculate the Golden Pockets.
Invert: Invert top/bottom for the Golden Pockets calculation.
Search in scripts for "volume profile"
Supply Demand Profiles [LuxAlgo]The Supply Demand Profiles is a charting tool that measures the traded volume at all price levels on the market over a specified time period and highlights the relationship between the price of a given asset and the willingness of traders to either buy or sell it, in other words, highlights key concepts as significant supply & demand zones, the distribution of the traded volume, and market sentiment at specific price levels within a specified time period, allowing traders to reveal dominant and/or significant price levels and to analyze the trading activity of a particular user-selected range.
In other words, this tool highlights key concepts as significant supply & demand zones, the distribution of the traded volume, and market sentiment at specific price levels within a specified time period, allowing traders to reveal dominant and/or significant price levels and to analyze the trading activity of a particular user-selected range.
Besides having the tool as a combo tool, the uniqueness of this version of the tool compared to its early versions is its ability to benefit from different volume data sources and its ability to use a variety of different polarity methods, where polarity is a measure used to divide the total volume into either up volume (trades that moved the price up) or down volume (trades that moved the price down).
🔶 USAGE
Supply & demand zones are presented as horizontal zones across the selected range, hence adding the ability to visualize the price interaction with them
By default, the right side of the profile is the volume profile which highlights the distribution of the traded activity at different price levels, emphasizing the value area, the range of price levels in which the specified percentage of all volume was traded during the time period, and levels of significance, such as developing point of control line, value area high/low lines, and profile high/low labels
The left side of the profile is the sentiment profile which highlights the market sentiment at specific price levels
🔶 DETAILS
🔹 Volume data sources
The users have the option to select volume data sources as either 'volume' (regular volume) or 'volume delta', where volume represents all the recorded trades that occur at a given bar and volume delta is the difference between the buying and the selling volume, that is, the net demand at a given bar
🔹 Polarity methods
The users are able to choose the methods of how the tool to take into consideration the polarity of the bar (the direction of a bar, green (bullish) or red (bearish) bar) among a variety of different options, such as 'bar polarity', 'bar buying/selling pressure', 'intrabar (chart bars at a lower timeframe than the chart's) polarity', 'intrabar buying/selling pressure', and 'heikin ashi bar polarity'.
Finally, the interactive mode of the tool is activated, as such users can easily modify the intervals of their interest just by selecting the indicator and moving the points on the chart
🔶 SETTINGS
The script takes into account user-defined parameters and plots the profiles and zones
🔹 Calculation Settings
Volume Data Source and Polarity: This option is to set the desired volume data source and polarity method
Lower Timeframe Precision: This option is applicable in case any of the 'Intrabar (LTF)' options are selected, please check the tooltip for further details
Value Area Volume %: Specifies the percentage for the value area calculation
🔹 Presentation Settings
Supply & Demand Zones: Toggles the visibility of the supply & demand zones
Volume Profile: Toggles the visibility of the volume profile
Sentiment Profile: Toggles the visibility of the sentiment profile
🔹 Presentation, Others
Value Area High (VAH): Toggles the visibility of the VAH line and color customization option
Point of Control (POC): Toggles the visibility of the developing POC line and color customization option
Value Area Low (VAL): Toggles the visibility of the VAL line and color customization option
🔹 Supply & Demand, Others
Supply & Demand Threshold %: This option is used to set the threshold value to determine supply & demand zones
Supply/Demand Zones: Color customization option
🔹 Volume Profile, Others
Profile, Up/Down Volume: Color customization option
Value Area, Up/Down Volume: Color customization option
🔹 Sentiment Profile, Others
Sentiment, Bullish/Bearish: Color customization option
Value Area, Bullish/Bearish: Color customization option
🔹 Others
Number of Rows: Specify how many rows the profile will have
Placment: Specify where to display the profile
Profile Width %: Alters the width of the rows in the profile, relative to the profile range
Profile Price Levels: Toggles the visibility of the profile price levels
Profile Background, Color: Fills the background of the profile range
Value Area Background, Color: Fills the background of the value area range
Start Calculation/End Calculation: The tool is interactive, where the user may modify the range by selecting the indicator and moving the points on the chart or can set the start/end time using these options
🔶 RELATED SCRIPTS
Volume-Profile
Volume-Profile-Maps
Volume-Delta
Delta Flow Profile [LuxAlgo]The Delta Flow Profile is a charting tool that tracks and visualizes money flow and the difference between buying and selling pressure accumulated within multiple price ranges over a specified period. It reveals the relationship between an asset's price and traders' willingness to buy or sell, helping traders identify significant price levels and analyze market activity.
The Normalized Profile displays the percentage of money flow at each price level relative to the maximum money flow level, enabling traders to easily compare levels and understand the relative importance of each price point in the context of overall trading activity.
🔶 USAGE
The Delta Flow Profile is made of two principal components with different usability, each one of them described in the sub-sections below.
🔹 Money Flow Profile
The Money Flow Profile illustrates the total buying and selling activity at different price ranges. By analyzing this profile, users can identify key price zones with substantial buying or selling pressure. These zones can often act as potential support or resistance.
The rows of the Money Flow Profile represent the trading activity at specific price ranges over a given period.
A normalized profile is included to compare each zone relative to the peak money flow using a percentage, with 100% indicating that a price range is the one with the highest accumulated money flow.
🔹 Delta Profile
The Delta Profile assesses the dominant sentiment (buying or selling) from volume delta at different price levels to gauge market sentiment and potential reversals.
Delta Profile rows with more significant buying or selling volume indicate dominance from one side of the market in that specific price area. Price coming back to that area might indicate willingness from a dominant side to further accumulate orders within it, potentially causing price to follow the direction established by this dominant side afterward.
The volume delta is determined from the user-selected Polarity Method, with "Bar Polarity" using candle sentiment to determine if a bar associated volume is buying or selling volume, and "Bar Buying/Selling Pressure" making use of the high/low price to obtain more precise results.
🔹 Level of Significance
Users can quickly highlight the price levels with the highest recorded money flow activity through the included "Level of Significance". Various display methods are included:
Developing: Show the price level with the highest recorded money flow activity spanning over the indicator calculation interval.
Level: Show the price level with the highest recorded money flow activity.
Row: Show the price zone with the highest recorded money flow activity.
These levels/zones can be used as potential support/resistance points and can serve as a reference of where prices might go next for market participants to accumulate orders.
🔶 SETTINGS
The script offers a range of customizable settings to tailor the analysis to your trading needs.
🔹 Calculation Settings
Money Flow Profile: Toggles the visibility of the Money Flow Profile.
Normalized: Toggles the visibility of the Normalized Profile.
Sentiment Profile: Toggles the visibility of the Sentiment Profile.
Polarity Method: Choose between Bar Polarity or Bar Buying/Selling Pressure to calculate the Sentiment Profile.
Level of Significance: Toggles the visibility of the level of significance line/zone.
Lookback Length / Fixed Range: Sets the lookback length.
Number of Rows: Specify how many rows each profile histogram will have.
🔹 Display Settings
Profile Width %: Alters the width of the rows in the histogram, relative to the profile length.
Profile Horizontal Offset: Enables moving the profile on the horizontal axis.
Profile Text: Toggles the visibility of profile texts, and alters the size of the text. Setting to Auto will keep the text within the box limits.
Currency: Extends the profile text with the traded currency.
Profile Price Levels: Toggles the visibility of the profile price levels.
🔶 RELATED SCRIPTS
Money-Flow-Profile
Volume-Profile-with-Node-Detection
Historic Volume/Market ProfilesHistoric Volume/Market Profile is a Periodic Volume Profile with all of the improvements known in the original Volume/Market Profile.
VMP is a 2 in 1 Volume and Market Profile Indicator.
HVMP uses the base of VMP to offer a quick and simple view at multiple historic profiles at the same time.
This includes:
Cluster Identification for High Volume and Low Volume Areas.
Maximizing granularity by utilizing boxes and lines to get up to 1000 rows.
New Inclusions in HVMP vs VMP:
HVMP granularity is determined by the # of profiles on display. By doing this, each profile will get an even amount of allocated rows to use and granularity is scaled per-profile, to fit within the row allowance.
For Example: 1000/(# of profiles) = Maximum # of rows per profile.
HVMP introduces the "Auto-Scale" Option (on by Default), this automatically fits each profile within the defined timeframe period to provide a consistent display when switching timeframes.
Even with "Auto-Scale" enabled, "Display Size" dictates which direction the profile is displayed.
Below is a Negative Display Size (Displays from right to left, starting at the end of the period)
Below is a Positive Display Size (Displays from left to right, starting at the beginning of the period)
HVMP is only for historical data, you can get a live profile with the same Node Identification using VMP (Volume Market/Profile). The indicator that this one is based on.
Find it Here: Volume/Market Profile
Enjoy!
Waindrops [Makit0]█ OVERALL
Plot waindrops (custom volume profiles) on user defined periods, for each period you get high and low, it slices each period in half to get independent vwap, volume profile and the volume traded per price at each half.
It works on intraday charts only, up to 720m (12H). It can plot balanced or unbalanced waindrops, and volume profiles up to 24H sessions.
As example you can setup unbalanced periods to get independent volume profiles for the overnight and cash sessions on the futures market, or 24H periods to get the full session volume profile of EURUSD
The purpose of this indicator is twofold:
1 — from a Chartist point of view, to have an indicator which displays the volume in a more readable way
2 — from a Pine Coder point of view, to have an example of use for two very powerful tools on Pine Script:
• the recently updated drawing limit to 500 (from 50)
• the recently ability to use drawings arrays (lines and labels)
If you are new to Pine Script and you are learning how to code, I hope you read all the code and comments on this indicator, all is designed for you,
the variables and functions names, the sometimes too big explanations, the overall structure of the code, all is intended as an example on how to code
in Pine Script a specific indicator from a very good specification in form of white paper
If you wanna learn Pine Script form scratch just start HERE
In case you have any kind of problem with Pine Script please use some of the awesome resources at our disposal: USRMAN , REFMAN , AWESOMENESS , MAGIC
█ FEATURES
Waindrops are a different way of seeing the volume and price plotted in a chart, its a volume profile indicator where you can see the volume of each price level
plotted as a vertical histogram for each half of a custom period. By default the period is 60 so it plots an independent volume profile each 30m
You can think of each waindrop as an user defined candlestick or bar with four key values:
• high of the period
• low of the period
• left vwap (volume weighted average price of the first half period)
• right vwap (volume weighted average price of the second half period)
The waindrop can have 3 different colors (configurable by the user):
• GREEN: when the right vwap is higher than the left vwap (bullish sentiment )
• RED: when the right vwap is lower than the left vwap (bearish sentiment )
• BLUE: when the right vwap is equal than the left vwap ( neutral sentiment )
KEY FEATURES
• Help menu
• Custom periods
• Central bars
• Left/Right VWAPs
• Custom central bars and vwaps: color and pixels
• Highly configurable volume histogram: execution window, ticks, pixels, color, update frequency and fine tuning the neutral meaning
• Volume labels with custom size and color
• Tracking price dot to be able to see the current price when you hide your default candlesticks or bars
█ SETTINGS
Click here or set any impar period to see the HELP INFO : show the HELP INFO, if it is activated the indicator will not plot
PERIOD SIZE (max 2880 min) : waindrop size in minutes, default 60, max 2880 to allow the first half of a 48H period as a full session volume profile
BARS : show the central and vwap bars, default true
Central bars : show the central bars, default true
VWAP bars : show the left and right vwap bars, default true
Bars pixels : width of the bars in pixels, default 2
Bars color mode : bars color behavior
• BARS : gets the color from the 'Bars color' option on the settings panel
• HISTOGRAM : gets the color from the Bearish/Bullish/Neutral Histogram color options from the settings panel
Bars color : color for the central and vwap bars, default white
HISTOGRAM show the volume histogram, default true
Execution window (x24H) : last 24H periods where the volume funcionality will be plotted, default 5
Ticks per bar (max 50) : width in ticks of each histogram bar, default 2
Updates per period : number of times the histogram will update
• ONE : update at the last bar of the period
• TWO : update at the last bar of each half period
• FOUR : slice the period in 4 quarters and updates at the last bar of each of them
• EACH BAR : updates at the close of each bar
Pixels per bar : width in pixels of each histogram bar, default 4
Neutral Treshold (ticks) : delta in ticks between left and right vwaps to identify a waindrop as neutral, default 0
Bearish Histogram color : histogram color when right vwap is lower than left vwap, default red
Bullish Histogram color : histogram color when right vwap is higher than left vwap, default green
Neutral Histogram color : histogram color when the delta between right and left vwaps is equal or lower than the Neutral treshold, default blue
VOLUME LABELS : show volume labels
Volume labels color : color for the volume labels, default white
Volume Labels size : text size for the volume labels, choose between AUTO, TINY, SMALL, NORMAL or LARGE, default TINY
TRACK PRICE : show a yellow ball tracking the last price, default true
█ LIMITS
This indicator only works on intraday charts (minutes only) up to 12H (720m), the lower chart timeframe you can use is 1m
This indicator needs price, time and volume to work, it will not work on an index (there is no volume), the execution will not be allowed
The histogram (volume profile) can be plotted on 24H sessions as limit but you can plot several 24H sessions
█ ERRORS AND PERFORMANCE
Depending on the choosed settings, the script performance will be highly affected and it will experience errors
Two of the more common errors it can throw are:
• Calculation takes too long to execute
• Loop takes too long
The indicator performance is highly related to the underlying volatility (tick wise), the script takes each candlestick or bar and for each tick in it stores the price and volume, if the ticker in your chart has thousands and thousands of ticks per bar the indicator will throw an error for sure, it can not calculate in time such amount of ticks.
What all of that means? Simply put, this will throw error on the BITCOIN pair BTCUSD (high volatility with tick size 0.01) because it has too many ticks per bar, but lucky you it will work just fine on the futures contract BTC1! (tick size 5) because it has a lot less ticks per bar
There are some options you can fine tune to boost the script performance, the more demanding option in terms of resources consumption is Updates per period , by default is maxed out so lowering this setting will improve the performance in a high way.
If you wanna know more about how to improve the script performance, read the HELP INFO accessible from the settings panel
█ HOW-TO SETUP
The basic parameters to adjust are Period size , Ticks per bar and Pixels per bar
• Period size is the main setting, defines the waindrop size, to get a better looking histogram set bigger period and smaller chart timeframe
• Ticks per bar is the tricky one, adjust it differently for each underlying (ticker) volatility wise, for some you will need a low value, for others a high one.
To get a more accurate histogram set it as lower as you can (min value is 1)
• Pixels per bar allows you to adjust the width of each histogram bar, with it you can adjust the blank space between them or allow overlaping
You must play with these three parameters until you obtain the desired histogram: smoother, sharper, etc...
These are some of the different kind of charts you can setup thru the settings:
• Balanced Waindrops (default): charts with waindrops where the two halfs are of same size.
This is the default chart, just select a period (30m, 60m, 120m, 240m, pick your poison), adjust the histogram ticks and pixels and watch
• Unbalanced Waindrops: chart with waindrops where the two halfs are of different sizes.
Do you trade futures and want to plot a waindrop with the first half for the overnight session and the second half for the cash session? you got it;
just adjust the period to 1860 for any CME ticker (like ES1! for example) adjust the histogram ticks and pixels and watch
• Full Session Volume Profile: chart with waindrops where only the first half plots.
Do you use Volume profile to analize the market? Lucky you, now you can trick this one to plot it, just try a period of 780 on SPY, 2760 on ES1!, or 2880 on EURUSD
remember to adjust the histogram ticks and pixels for each underlying
• Only Bars: charts with only central and vwap bars plotted, simply deactivate the histogram and volume labels
• Only Histogram: charts with only the histogram plotted (volume profile charts), simply deactivate the bars and volume labels
• Only Volume: charts with only the raw volume numbers plotted, simply deactivate the bars and histogram
If you wanna know more about custom full session periods for different asset classes, read the HELP INFO accessible from the settings panel
EXAMPLES
Full Session Volume Profile on MES 5m chart:
Full Session Unbalanced Waindrop on MNQ 2m chart (left side Overnight session, right side Cash Session):
The following examples will have the exact same charts but on four different tickers representing a futures contract, a forex pair, an etf and a stock.
We are doing this to be able to see the different parameters we need for plotting the same kind of chart on different assets
The chart composition is as follows:
• Left side: Volume Labels chart (period 10)
• Upper Right side: Waindrops (period 60)
• Lower Right side: Full Session Volume Profile
The first example will specify the main parameters, the rest of the charts will have only the differences
MES :
• Left: Period size: 10, Bars: uncheck, Histogram: uncheck, Execution window: 1, Ticks per bar: 2, Updates per period: EACH BAR,
Pixels per bar: 4, Volume labels: check, Track price: check
• Upper Right: Period size: 60, Bars: check, Bars color mode: HISTOGRAM, Histogram: check, Execution window: 2, Ticks per bar: 2,
Updates per period: EACH BAR, Pixels per bar: 4, Volume labels: uncheck, Track price: check
• Lower Right: Period size: 2760, Bars: uncheck, Histogram: check, Execution window: 1, Ticks per bar: 1, Updates per period: EACH BAR,
Pixels per bar: 2, Volume labels: uncheck, Track price: check
EURUSD :
• Upper Right: Ticks per bar: 10
• Lower Right: Period size: 2880, Ticks per bar: 1, Pixels per bar: 1
SPY :
• Left: Ticks per bar: 3
• Upper Right: Ticks per bar: 5, Pixels per bar: 3
• Lower Right: Period size: 780, Ticks per bar: 2, Pixels per bar: 2
AAPL :
• Left: Ticks per bar: 2
• Upper Right: Ticks per bar: 6, Pixels per bar: 3
• Lower Right: Period size: 780, Ticks per bar: 1, Pixels per bar: 2
█ THANKS TO
PineCoders for all they do, all the tools and help they provide and their involvement in making a better community
scarf for the idea of coding a waindrops like indicator, I did not know something like that existed at all
All the Pine Coders, Pine Pros and Pine Wizards, people who share their work and knowledge for the sake of it and helping others, I'm very grateful indeed
I'm learning at each step of the way from you all, thanks for this awesome community;
Opensource and shared knowledge: this is the way! (said with canned voice from inside my helmet :D)
█ NOTE
This description was formatted following THIS guidelines
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I sincerely hope you enjoy reading and using this work as much as I enjoyed developing it :D
GOOD LUCK AND HAPPY TRADING!
PATTERNPULSE / Stttrading F.VelazquezPATTERNPULSE
Discover a powerful tool for market analysis with the Velas Engulfing + RSI Indicator. Crafted by Stttrading Franco Velazquez, this indicator seamlessly blends engulfing candle patterns with the precision of the RSI filter. What sets it apart is its unique approach – signals are exclusively generated when the RSI reaches overbought or oversold conditions, providing a distinctive edge over conventional engulfing candle indicators.
Key Features :
Engulfing Candle Patterns: Identify both bullish and bearish engulfing candle formations.
RSI Integration: Harness the strength of the RSI indicator to evaluate market momentum and potential reversals.
Visual Signals: Enjoy clear and intuitive signals directly on your chart for seamless decision-making.
Configurable Alerts: Tailor the indicator to your preferences with customizable alerts for timely notifications.
Usage Instructions:
Engulfing Candles:
Visualize bullish and bearish candles through green and red triangles, respectively.
Capitalize on buying opportunities when bullish candles emerge and consider selling when bearish candles unfold.
RSI Indicator:
Leverage the RSI indicator to gauge overbought and oversold market conditions.
Fine-tune RSI levels based on your trading strategy and risk tolerance.
Alert System:
Set up alerts to stay informed about crucial market movements, ensuring you never miss a trading opportunity.
Custom Configuration:
RSI Source: Customize the data source for RSI calculations to suit your analysis.
RSI Length: Define the length of the RSI period for precise adjustments.
RSI Overbought and Oversold Levels: Tailor the overbought and oversold RSI thresholds to align with your trading preferences.
Important Note: Always conduct thorough analysis and implement proper risk management before executing trades.
Volume Profile in PatternPulse:
In the paid version of the PatternPulse indicator, an advanced Volume Profile tool is included, offering a detailed view of how volume is distributed across different price levels over a specific period. Here's how it works:
Show Volume Profile: You can toggle the display of the volume profile on the chart using the Show VP option.
Depth and Number of Bars Configuration: The tool allows you to adjust the Volume Profile Lookback Depth, which defines how many periods back will be analyzed to calculate the volume profile. You can also set the number of bars (VP Number of Bars) to be displayed on the chart, as well as the bar length and width to customize its appearance.
Delta Type: You can choose from different delta types for the volume profile: Bullish, Bearish, or Both. This enables you to focus on volumes associated with bullish price movements, bearish movements, or both.
Point of Control (POC): The tool also offers an option to extend the Point of Control (POC) line on the volume profile. The POC represents the price level with the highest traded volume during the analyzed period.
Customizable Colors: You can customize the colors of the volume profile bars and the Point of Control (POC) to match your visual preferences.
How to Use It:
The volume profile helps identify price levels where significant volume has been traded, which can be crucial for determining key support and resistance levels in the market. Adjust the parameters to fit your needs for a clear and precise visualization that supports your technical analysis.
Info Box in PatternPulse
In the paid version of PatternPulse, you'll find an info box that provides a comprehensive view of various market aspects. Here's how it works:
General Information: At the top of the info box, you'll see the title "PATTERNPULSEVIP® Info. BOX" in grey with orange text. This title helps you identify that you are viewing the information section.
CCL Dollar: The info box displays the value of the CCL (Contado con Liquidación) dollar for Argentina, which is an important reference for investors in that market.
Indices and Metals: This section includes information on the US Dollar Index (DXY), the Euro Index (EXY), as well as the prices of gold and silver.
Crypto Dominance: Here, you'll see the dominance of Bitcoin (BTC) and Ethereum (ETH) in the cryptocurrency market, helping you understand the influence of these cryptocurrencies on the global market.
MACD: The info box shows the current MACD (Moving Average Convergence Divergence) trend. The trend can be bullish or bearish, providing additional insight into market direction.
RSI: The current RSI (Relative Strength Index) value is also displayed. If the RSI indicates overbought conditions (above 75), the info box will turn teal with white text. If it indicates oversold conditions (below 25), the info box will turn maroon with white text.
Customization: You can adjust the horizontal offset of the info box from the chart and change the style and color of the text to suit your visual preferences.
This info box provides key data at a glance, making it easier to make informed decisions in your technical analysis. Adjust the settings according to your needs to get the most relevant information for your trading strategy.
Bollinger Bands in PatternPulse
In the paid version of PatternPulse, we’ve added the Bollinger Bands (BB) indicator to help you analyze market volatility and trends. Here’s a breakdown of how to use it:
1. Display Options:
Show BB: You can toggle the visibility of the Bollinger Bands on your chart using the "Show BB" option.
2. Configuration:
Length: Adjust the length of the moving average used to calculate the Bollinger Bands. The default is set to 20 periods, but you can modify it to fit your trading strategy.
Source: Choose the data source for the Bollinger Bands calculation, with the default being the closing price.
Standard Deviation: Set the number of standard deviations away from the moving average for the upper and lower bands. The default is 2.0, which is commonly used.
3. Plotting:
Basis: The middle line (basis) of the Bollinger Bands is plotted, which is a simple moving average (SMA) of the specified length.
Upper and Lower Bands: The upper and lower bands are plotted based on the standard deviation from the basis line.
Offset: Adjust the horizontal position of the bands on your chart to better align with your analysis needs.
4. Visualization:
Color: The Bollinger Bands and their background fill are color-coded for easy interpretation. The default colors are shades of blue, but you can customize them if needed.
These Bollinger Bands will help you to visualize price volatility and identify potential market opportunities based on how the price interacts with these bands. Adjust the settings according to your trading preferences to get the most out of this feature.
Parabolic SAR in PatternPulse
In the advanced version of PatternPulse, we've added the Parabolic SAR (PSAR) to help you identify potential trend changes in the market. Here's how this tool works:
1. Activating the Indicator:
Show PSAR: You can toggle the visibility of the Parabolic SAR using the "Show PSAR" option. This controls whether the indicator is displayed on your chart.
2. PSAR Settings:
Start: Adjust the initial value for the PSAR calculation. This value sets the starting point for the acceleration of the indicator.
Increment: Defines the rate at which the PSAR increases. This value increases the acceleration parameter with each new high or low.
Maximum Value: Sets the upper limit for the acceleration parameter. This prevents the indicator from moving too quickly in high-volatility conditions.
3. Visualization:
Color of the Dots: The PSAR dots are displayed in teal if the indicator is below the closing price, indicating a bullish trend. They are shown in maroon if the indicator is above the closing price, indicating a bearish trend.
How to Use It: The Parabolic SAR is useful for identifying potential reversal points in the market. When the indicator switches position relative to the price, it can signal a potential trend change. Use this indicator in conjunction with other analysis tools to make more informed trading decisions.
User Explanation EMAs
This part of the indicator utilizes Exponential Moving Averages (EMAs) to help you identify trends and potential entry or exit points in the market. Here’s how they work and how you can customize them:
What are EMAs?
Exponential Moving Averages (EMAs) are indicators that smooth out historical prices to identify the direction of the trend. Unlike Simple Moving Averages, EMAs give more weight to recent prices, making them more responsive to current price changes.
How Each EMA Works:
1° EMA (Adjustable Length):
Purpose: The first EMA provides a short-term view and can help identify recent movements and potential quick trend changes.
Customization: You can adjust the length of this EMA (number of periods) using the "1° EMA length" option.
2° EMA (Adjustable Length):
Purpose: The second EMA acts as a smoother filter, helping to confirm or discredit signals from the first EMA.
Customization: Adjust its length with "2° EMA length".
3° EMA (Adjustable Length):
Purpose: The third EMA provides a longer-term view, helping to identify mid-term trends and significant turning points.
Customization: Modify its length via "3° EMA length".
4° EMA (Adjustable Length):
Purpose: The fourth EMA represents the long-term trend, offering a perspective on the market’s overall direction.
Customization: Change its length using "4° EMA length".
Customizable Colors:
You can choose the colors for each EMA through the provided color options. This allows you to distinguish each EMA on your chart easily and customize its appearance according to your preferences.
EMA Crosses:
Small Crosses (1° and 2° EMAs):
Functionality: When the 1° EMA crosses above the 2° EMA, it may signal a buy (bullish cross). When it crosses below, it may signal a sell (bearish cross).
Visualization: You can enable or disable the display of these small crosses.
Large Crosses (3° and 4° EMAs):
Functionality: Crosses between the 3° and 4° EMAs help identify more significant trend changes. A bullish cross may indicate an uptrend, while a bearish cross may signal a downtrend.
Visualization: You can also enable or disable these large crosses on your chart.
How to Use This Information:
Trend Identification: EMAs help you see whether the market is in an uptrend or downtrend, and crosses between them can indicate potential trading opportunities.
Entry/Exit Signals: Crosses between EMAs can signal optimal times to enter or exit a position.
This set of EMAs provides you with a clear view of different time frames in the market, allowing you to make more informed trading decisions based on the current trend and price changes.
Support and Resistance
Support and Resistance levels are essential tools in technical analysis, helping traders identify key price levels where the market might reverse or pause. This feature of the indicator provides visual markers for these levels and tracks how the price interacts with them.
Parameters:
Lookback Range: Defines the number of bars to look back when identifying pivot points. A larger value considers more historical data.
Bars Since Breakout: Determines how many bars should have passed since a breakout to detect a potential retest.
Retest Detection Limiter: Limits the number of bars actively checked for confirming a retest after a breakout.
Breakouts and Retests: Options to enable or disable detection for breakouts and retests.
Repainting: Controls how the indicator updates based on different criteria such as candle confirmation or high/low values. This affects how often and in what way the indicator adjusts its markings.
Pivot Points:
Pivot Low and High: The indicator identifies key support (pivot lows) and resistance (pivot highs) points based on the historical price action within the defined lookback range.
Boxes and Labels:
Drawing Boxes: Visual boxes are drawn to represent support and resistance levels. These boxes adjust dynamically with price changes and can extend based on user settings.
Breakout Labels: Labels are created when a breakout occurs, marking the point where the price crosses these support or resistance levels.
Retest Labels: When a potential retest is detected, the indicator can label it to signal areas where the price might test the broken support or resistance.
Customization Options:
Box and Label Styling: Users can customize the style, color, and size of the boxes and labels representing support and resistance.
Text Color Override: Option to change the color of text labels independently from the default color settings.
Key Benefits:
Visual Clarity: Easily identify important levels on the chart.
Dynamic Updates: Levels adjust as new price data comes in, providing relevant and up-to-date information.
Customization: Tailor the appearance and behavior of the support and resistance markings to fit your trading style.
This feature enhances your chart analysis by clearly marking critical levels and events, making it easier to spot potential trading opportunities.
Explanation of the Simple Moving Averages (SMA) Functionality
Simple Moving Averages (SMAs) are technical analysis tools used to smooth out price data and identify market trends. This part of the code allows you to add two SMAs to the chart with customizable settings.
Configuration Parameters:
Show SMA 1 and SMA 2: Enables or disables the display of each moving average. You can choose to show SMA 1, SMA 2, or both on your chart.
SMA Length: Defines the number of periods used to calculate each SMA. For example, a length of 14 for SMA 1 and 50 for SMA 2. A longer length smooths the line more, while a shorter length follows price movements more closely.
SMA Source: Sets which price data (e.g., closing price) is used to calculate the SMA.
Color and Width of SMA: Allows you to customize the color and width of each SMA line to fit your visual preference or to clearly distinguish between different SMAs on the chart.
SMA Style: Provides options to change the line style of the SMA to solid, dashed, or dotted, so you can personalize the appearance according to your analysis style.
SMA Calculation:
Calculation: The SMA is calculated by averaging the closing prices (or selected source) over the specified number of periods. This helps to smooth out daily price fluctuations and reveals the overall trend.
Visualization:
Plot for SMA 1 and SMA 2: Draws the SMA lines on the chart according to the specified settings. If you choose to hide an SMA, it will not appear on the chart.
Line Style: The line is drawn according to the selected style (solid, dashed, or dotted), and you can adjust the thickness and color to suit your visual needs.
Key Benefits:
Trend Clarity: SMAs help smooth out price movement and allow you to see the general trend in the market.
Customization: You can adjust the length, color, thickness, and style of the lines to fit your analysis and visual preferences.
Facilitates Analysis: SMAs can be used to identify crossings and important trading signals, such as when a short-term SMA crosses above or below a longer-term SMA.
This functionality provides you with powerful tools to adjust and customize how moving averages are presented on your charts, making it easier to identify trends and signals in the market.
Thank you for exploring the features of our indicator! We hope you find the customization options and tools provided, including the Simple Moving Averages, valuable for your trading analysis. If you have any questions or need further assistance, please feel free to reach out.
We invite you to try out the complete PatternPulse indicator to experience its full range of functionalities and see how it can enhance your trading strategies. Your feedback is always appreciated!
Happy trading!
Volume IQOverview
Volume IQ is meant to be the ‘intelligent volume distribution analyzer’ that takes much of the work of interpreting volume profiles off of your shoulders. It attempts to ‘do the technical analysis’ of volume data for you, with its capstone feature being "Trading Action Zones": ranges on the chart whose placement are determined by high and low volume nodes and sentiment analysis, and their adapting range affected by current volatility. These zones are meant to offer practical levels for potential entries, exits, targets, and stops while trading. These zones are the cherry on top of other useful and original features like visuals for grouping areas of similar buy/sell bias.
Originality and Usefulness
Volume IQ stands out for its originality by offering a data-driven approach to interpreting volume profiles and presenting its analysis on the chart. Unlike traditional volume profiles, Volume IQ automates much of the volume analysis process, helping traders identify potential opportunities and key trading areas with minimal effort. Its unique "Trading Action Zones" leverage high and low volume nodes, sentiment analysis, and current volatility to highlight practical levels for entries, exits, targets, and stops. Additionally, the tool provides grouped bias visuals, gradient coloring, and flexible customization options, allowing traders to gain a clearer understanding of market sentiment and structure. By simplifying complex volume data into actionable insights, Volume IQ provides a valuable and efficient resource for charting on TradingView.
The ‘Capstone’ Feature:
Trading ‘Action Zones’: Potential areas to take trading action based on built-in interpretations of high-volume nodes, low-volume nodes, and overarching chart sentiment (whose calculation is described below), and their interplay. Categorized by tiers - with Tier 2 zones intended as potential entry areas, and Tier 1 zones for exits or adds. These zones can also present logical areas to consider targets and stops, for example placing a stop loss in a Tier 1 sell zone below price where there is a series of low-volume nodes and potentially not much support. These zones help you quickly identify potential areas on the chart to ‘take action’.
Key Features:
Level and Block Biases: By estimating buying and selling volume, as well as leveraging intrabar data, the Volume IQ profile provides detailed buy/sell sentiment at individual price levels. It then groups together consecutive price levels with the same bias into what we call ‘Block Biases’ making it easy to determine larger price areas with distinct buying or selling pressure.
Chart Sentiment Analysis: A ‘continuously optimizing algorithm’ configured to find high average runups after a sentiment switch powers what we call ‘bias guidelines’ which border the Volume IQ profile and influence the determination of Action Zones. This algorithm is based on comparing many combinations of volume-weighted trends, largely based on smoothed volume weighted moving averages, on each bar, to ensure that the approach with the highest average runup amongst the combinations is used.
Zones of Control: A gradient-coloring approach to the profile highlighst areas of influence at a glance, making it easier to focus on key price levels.
Broad Compatibility: Works across all chart timeframes and market types - so long as volume data and OHLC candle data is available.
Highly Customizable: Configure features to align with your trading preferences and workflow. Show them all, or pick and choose the ones you want.
Settings
Use a Color Theme: Toggle between our predefined color themes or customize your own.
Style: Select your preferred color theme (e.g., "TI Fusion").
Colors (When Not Using a Theme): Customize primary, secondary, and background colors for your own non-theme styling.
Gradient Coloring: Enable or disable gradient shading of the profile for visual enhancement of zones with high control and low control.
Action Zones: Turn trading action zones on or off to highlight key trading levels.
Time Staggering: Enabling this option will simply ‘stagger’ the display of action zones horizontally. Zones closer to price will be placed leftwards, and as they become more distant from price, they will be ‘staggered out’ rightwards, to give an intuitive feel for the time it may take for price to reach these zones.
Tier Labels: Enable or disable the ‘tier labels’ (1 square for Tier 1, 2 squares for Tier 2) for action zones.
Bias Blocks: Toggle the display of grouped buy/sell bias blocks.
Extend: Choose how the bias blocks are displayed: “Left” to stretch them from the end to the beginning of the histogram, “Right” to extend from the end outwards, and “Across” to extend from the beginning to outwards past the end, enveloping the bias and volume count labels.
Opacity: Adjust the transparency level of bias blocks (0–100).
Level Bias Labels: Turn on/off labels for individual price level biases.
Bias Guidelines: Enable the visual guidelines for bias levels which border the profile.
Volume Counts: Toggle volume count labels for each of the profile’s price levels.
Split Buy/Sell Volume: Enable separate display of buy and sell volume for each level (buy volume on the left, sell volume on the right).
Font Size: Adjust the font size for these labels.
Histogram Display: Choose the display option for the histogram bars of the profile themselves: "Full View" will display the profile, and “None” will hide it.
BG Shading Logic: Adjust the background shading logic for the display: “Neutral” will use the ‘Neutral Color’ from your color theme to put some emphasis around high and low volume nodes, while “None” will remove any background shading.
Detail: This option allows you to set the granularity of the volume data used: “Bar Data” will simply use the bar data from the chart timeframe, while “Intrabar Data” will attempt to use bar data from a lower timeframe. Please note that using intrabar data may not be available with your TradingView subscription on some timeframes, and also that using intrabar data may increase calculation time.
Data Request: Choose the lookback for the volume distribution: "Long-term" will look back 500 bars, and “Short-Term” will halve this.
# of Levels: Specify the number of levels/rows to display for visualizing the distribution.
IQ Zones [TradingIQ]Hey Traders!
Introducing "IQ Zones".
"IQ Zones" is an indicator that combines support and resistance identification with volume, the "value area" of a candlestick to be exact. IQ Zones identifies turning points in the market; however, the candlestick high or low that formed the key turning point is not necessarily distinguished as the support/resistance area. Instead, the script looks into the bar at lower timeframes and calculates the value area of the candlestick that formed the support or resistance level. Therefore, any lines protruding from a candlestick reflect the value area of that candlestick. These levels (value area high and value area low) are marked on the candlestick as a support/resistance level. If the level formed on high volume it's marked as an "IQ Zone".
Additionally, IQ Zones presents a heat map to show volume intensity at nearby price areas. The heatmap is a product of the Volume Profile (IQ Profile) located on the right of the chart.
The IQ Profile is a segmented volume profile. Recent price is split into fifths (customizable), and individual volume profiles are calculated for all segmented price areas. Price is split into more than one segment to avoid a situation where volume in a ranging price zone far surpasses all other recent price areas - creating an "unusable" volume profile that doesn't offer helpful insights. If desired, you can set the segmenting option to "1" to calculate one unified volume profile for the entire price range.
The image above shows IQ Zones in action!
Core Features of IQ Zones
Value Area Support and Resistance Levels
Segmented volume profile for the recent trading period
Volume intensity heatmap
Support and resistance levels in high volume intensity may be more significant as price stoppers
The image above explains the labels marked along the y-axis of the IQ Profile.
The "more green" a price area/label is, the higher the volume intensity at the marked support/resistance area.
The image above further explains line lines protruding from the IQ Profile.
For this example, the value area of the candlestick (where most trading action occurred) is quite far from the high price of the candlestick that formed a resistance level! Using the value area of a candlestick that marks a key turning point to draw support/resistance offers insight into where the majority of trading action took place when the support/resistance level was forming!
Additionally, you can hover your mouse over the IQ Zone labels (triangles pointing up or down) to see the prices of the value area for the support/resistance level, including the total buying volume and total selling volume at the price area!
The image above further explains the IQ Profile!
You can segment the recent price area anywhere from 1 - 15 times.
The image above further explains IQ Zones and the IQ Profile!
That will be all for this indicator - a fun project to share with the community.
Thank you!
Rolling Point of Control (POC) [AlgoAlpha]Enhance your trading decisions with the Rolling Point of Control (POC) Indicator designed by AlgoAlpha! This powerful tool displays a dynamic Point of Control based on volume or price profiles directly on your chart, providing a vivid depiction of dominant price levels according to historical data. 🌟📈
🚀 Key Features:
Profile Type Selection: Choose between Volume Profile and Price Profile to best suit your analysis needs.
Adjustable Lookback Period: Modify the lookback period to consider more or less historical data for your profile.
Customizable Resolution and Scale: Tailor the resolution and horizontal scale of the profile for precision and clarity.
Trend Analysis Tools: Enable trend analysis with the option to display a weighted moving average of the POC.
Color-Coded Feedback: Utilize color gradients to quickly identify bullish and bearish conditions relative to the POC.
Interactive Visuals: Dynamic rendering of profiles and alerts for crossing events enhances visual feedback and responsiveness.
Multiple Customization Options: Smooth the POC line, toggle profile and fill visibility, and choose custom colors for various elements.
🖥️ How to Use:
🛠 Add the Indicator:
Add the indicator to favorites and customize settings like profile type, lookback period, and resolution to fit your trading style.
📊 Market Analysis:
Monitor the POC line for significant price levels. Use the histogram to understand price distributions and locate major market pivots.
🔔 Alerts Setup:
Enable alerts for price crossing over or under the POC, as well as for trend changes, to stay ahead of market movements without constant chart monitoring.
🛠️ How It Works:
The Rolling POC indicator dynamically calculates the Point of Control either based on volume or price within a user-defined lookback period. It plots a histogram (profile) that highlights the level at which the most trading activity has occurred, helping to identify key support and resistance levels.
Basic Logic Overview:
- Data Compilation: Gathers high, low, and volume (if volume profile selected) data within the lookback period.
- Histogram Calculation: Divides the price range into bins (as specified by resolution), counting hits in each bin to find the most frequented price level.
- POC Identification: The price level with the highest concentration of hits (or volume) is marked as the POC.
- Trend MA (Optional): If enabled, the indicator plots a moving average of the POC for trend analysis.
By integrating the Rolling Point of Control into your charting toolkit, you can significantly enhance your market analysis and potentially increase the accuracy of your trading decisions. Whether you're day trading or looking at longer time frames, this indicator offers a detailed, customizable perspective on market dynamics. 🌍💹
Volume HeatMap With Profile [ChartPrime]The Volume Heatmap with Profile indicator is a tool designed to provide traders with a comprehensive view of market activity through customizable visualizations. This indicator goes beyond traditional volume analysis by offering a range of adjustable parameters and features that enhance analysis of volume and give a cleaner experience when analyzing it.
To get started click the start and end time for the profile.
Key Features:
Extended Calculation: This indicator extends its calculation to the last bar, ensuring that the user has insights into current market dynamics.
Point of Control (POC): Easily identify the price level at which the highest trading activity has occurred, helping the user pinpoint potential reversal points and significant support/resistance zones.
VWAP Point of Control: Display the Volume Weighted Average Price (VWAP) Point of Control, giving the user a clear reference for determining the average price traders are paying and potential price reversals.
Adjustable Colors for Heatmap: Change the heatmap colors to the users preference, allowing the user to match the indicator's appearance to their chart style and personal visual preferences.
Forecasted Zone: This feature allows traders to forecast areas of high activity by providing the option to adjust colors within this zone. This feature assists in identifying potential breakouts or areas where increased trading volume is anticipated.
Volume Profile: Customize the colors of the volume profile to make it distinct and easily distinguishable on the chart.
Adjustable Volume Levels: Specify the number volume levels that are most relevant to your trading strategy.
Adjustable Placement for Volume Profile: Position the volume profile on the chart. Whether the user prefers it on the left, right, or at the center of the chart, this indicator offers placement flexibility.
The ratio of bull vs bear volume is plotted on the outside of the range indicating how bullish or bearish price action is in a given range.
Bull Vs Bear Visible Range VP [Kioseff Trading]Hello!
This Script “Bull vs Bear Visible Range VP” Calculates Bull & Bear Volume Profiles for the Visible Range Alongside a Delta Ladder for the Visible Period!
Features
Volume Profile Anchored to Visible Range
Delta Ladder Anchored to Visible Range
Bull vs Bear Profiles!
Standard Poc and Value Area Lines, in Addition to Separated POCs and Value Area Lines for Bull Profiles and Bear Profiles
Configurable Value Area Target
Curved Profiles
Up to 9999 Profile Rows per Visible Range
Stylistic Options for Profiles
This Script Generates Bull vs. Bear Volume Profiles for the Visible Range!
Up to 9999 Volume Profile Levels (Price Levels) Can Be Calculated for Each Profile, Thanks to the New Polyline Feature, Allowing For Less Aggregation / More Precision of Volume at Price and Volume Delta.
Bull vs Bear Profiles
The Image Above Shows Primary Functionality!
Green Profiles = Buying Volume
Red Profiles = Selling Volume
Bullish & Bearish Pocs for the Visible Range Are Displayable!
Profiles Can Be Anchored on the Left Side for a More Traditional Look.
The indicator is robust enough to calculate on "small price periods", or for a price period spanning your entire chart fully zoomed out!
That’s About It :D
This Indicator Is Part of a Series Titled “Bull vs. Bear” - A Suite of Profile-Like Indicators I Will Be Releasing Over Coming Days. Thanks for Checking This Out!
If You Have Any Suggestions Please Feel Free to Share!
Bollinger Bands Liquidity Cloud [ChartPrime]This indicator overlays a heatmap on the price chart, providing a detailed representation of Bollinger bands' profile. It offers insights into the price's behavior relative to these bands. There are two visualization styles to choose from: the Volume Profile and the Z-Score method.
Features
Volume Profile: This method illustrates how the price interacts with the Bollinger bands based on the traded volume.
Z-Score: In this mode, the indicator samples the real distribution of Z-Scores within a specified window and rescales this distribution to the desired sample size. It then maps the distribution as a heatmap by calculating the corresponding price for each Z-Score sample and representing its weight via color and transparency.
Parameters
Length: The period for the simple moving average that forms the base for the Bollinger bands.
Multiplier: The number of standard deviations from the moving average to plot the upper and lower Bollinger bands.
Main:
Style: Choose between "Volume" and "Z-Score" visual styles.
Sample Size: The size of the bin. Affects the granularity of the heatmap.
Window Size: The lookback window for calculating the heatmap. When set to Z-Score, a value of `0` implies using all available data. It's advisable to either use `0` or the highest practical value when using the Z-Score method.
Lookback: The amount of historical data you want the heatmap to represent on the chart.
Smoothing: Implements sinc smoothing to the distribution. It smoothens out the heatmap to provide a clearer visual representation.
Heat Map Alpha: Controls the transparency of the heatmap. A higher value makes it more opaque, while a lower value makes it more transparent.
Weight Score Overlay: A toggle that, when enabled, displays a letter score (`S`, `A`, `B`, `C`, `D`) inside the heatmap boxes, based on the weight of each data point. The scoring system categorizes each weight into one of these letters using the provided percentile ranks and the median.
Color
Color: Color for high values.
Standard Deviation Color: Color to represent the standard deviation on the Bollinger bands.
Text Color: Determines the color of the letter score inside the heatmap boxes. Adjusting this parameter ensures that the score is visible against the heatmap color.
Usage
Once this indicator is applied to your chart, the heatmap will be overlaid on the price chart, providing a visual representation of the price's behavior in relation to the Bollinger bands. The intensity of the heatmap is directly tied to the price action's intensity, defined by your chosen parameters.
When employing the Volume Profile style, a brighter and more intense area on the heatmap indicates a higher trading volume within that specific price range. On the other hand, if you opt for the Z-Score method, the intensity of the heatmap reflects the Z-Score distribution. Here, a stronger intensity is synonymous with a more frequent occurrence of a specific Z-Score.
For those seeking an added layer of granularity, there's the "Weight Score Overlay" feature. When activated, each box in your heatmap will sport a letter score, ranging from `S` to `D`. This score categorizes the weight of each data point, offering a concise breakdown:
- `S`: Data points with a weight of 1.
- `A`: Weights below 1 but greater than or equal to the 75th percentile rank.
- `B`: Weights under the 75th percentile but at or above the median.
- `C`: Weights beneath the median but surpassing the 25th percentile rank.
- `D`: All that fall below the 25th percentile rank.
This scoring feature augments the heatmap's visual data, facilitating a quicker interpretation of the weight distribution across the dataset.
Further Explanations
Volume Profile
A volume profile is a tool used by traders to visualize the amount of trading volume occurring at specific price levels. This kind of profile provides a deep insight into the market's structure and helps traders identify key areas of support and resistance, based on where the most trading activity took place. The concept behind the volume profile is that the amount of volume at each price level can indicate the potential importance of that price.
In this indicator:
- The volume profile mode creates a visual representation by sampling trading volumes across price levels.
- The representation displays the balance between bullish and bearish volumes at each level, which is further differentiated using a color gradient from `low_color` to `high_color`.
- The volume profile becomes more refined with sinc smoothing, helping to produce a smoother distribution of volumes.
Z-Score and Distribution Resampling
Z-Score, in the context of trading, represents the number of standard deviations a data point (e.g., closing price) is from the mean (average). It’s a measure of how unusual or typical a particular data point is in relation to all the data. In simpler terms, a high Z-Score indicates that the data point is far away from the mean, while a low Z-Score suggests it's close to the mean.
The unique feature of this indicator is that it samples the real distribution of z-scores within a window and then resamples this distribution to fit the desired sample size. This process is termed as "resampling in the context of distribution sampling" . Resampling provides a way to reconstruct and potentially simplify the original distribution of z-scores, making it easier for traders to interpret.
In this indicator:
- Each Z-Score corresponds to a price value on the chart.
- The resampled distribution is then used to display the heatmap, with each Z-Score related price level getting a heatmap box. The weight (or importance) of each box is represented as a combination of color and transparency.
How to Interpret the Z-Score Distribution Visualization:
When interpreting the Z-Score distribution through color and alpha in the visualization, it's vital to understand that you're seeing a representation of how unusual or typical certain data points are without directly viewing the numerical Z-Score values. Here's how you can interpret it:
Intensity of Color: This often corresponds to the distance a particular data point is from the mean.
Lighter shades (closer to `low_color`) typically indicate data points that are more extreme, suggesting overbought or oversold conditions. These could signify potential reversals or significant deviations from the norm.
Darker shades (closer to `high_color`) represent data points closer to the mean, suggesting that the price is relatively typical compared to the historical data within the given window.
Alpha (Transparency): The degree of transparency can indicate the significance or confidence of the observed deviation. More opaque boxes might suggest a stronger or more reliable deviation from the mean, implying that the observed behavior is less likely to be a random occurrence.
More transparent boxes could denote less certainty or a weaker deviation, meaning that the observed price behavior might not be as noteworthy.
- Combining Color and Alpha: By observing both the intensity of color and the level of transparency, you get a richer understanding. For example:
- A light, opaque box could suggest a strong, significant deviation from the mean, potentially signaling an overbought or oversold scenario.
- A dark, transparent box might indicate a weak, insignificant deviation, suggesting the price is behaving typically and is close to its average.
10x Bull Vs. Bear VP Intraday Sessions [Kioseff Trading]Hello!
This script "10x Bull Vs. Bear VP Intraday Sessions" lets the user configure up to 10 session ranges for Bull Vs. Bear volume profiles!
Features
Up To 10 Fixed Ranges!
Volume Profile Anchored to Fixed Range
Delta Ladder Anchored to Range
Bull vs Bear Profiles!
Standard Poc and Value Area Lines, in Addition to Separated POCs and Value Area Lines for Bull Profiles and Bear Profiles
Configurable Value Area Target
Up to 2000 Profile Rows per Visible Range
Stylistic Options for Profiles
This script generates Bull vs. Bear volume profiles for up to 10 fixed ranges!
Up to 2000 volume profile levels (price levels) Can be calculated for each profile, thanks to the new polyline feature, allowing for less aggregation / more precision of volume at price and volume delta.
Bull vs Bear Profiles
The image above shows primary functionality!
Green profiles = buying volume
Red profiles = selling volume
All colors are configurable.
Bullish & bearish POC + value areas for each fixed range are displayable!
That’s about it :D
This indicator is part of a series titled “Bull vs. Bear”.
If you have any suggestions please feel free to share!
Time Profile [QuantVue]The Time Profile indicator provides traders with a comprehensive view of volume and time-based price activity. The indicator combines two essential components into one indicator: the volume profile and the time profile.
The volume profile represents the distribution of trading volume at different price levels over a specified period and is displayed as a circle on the chart.
It provides a visual representation of where the majority of trading volume occurred and often highlights significant support and resistance levels. The volume profile is calculated as the closing price of the highest volume intraday bar, based on the user selected lower time frame.
On the other hand, the time profile focuses on analyzing the time spent at certain price levels. The indicator divides the current bars range into 10 blocks and counts the number of user selected lower time frame closes within each time block.
The block with the most lower time frame closes in it is deemed the time point of control. Traders can use this information to identify time blocks where price movement was most significant.
The time profile is drawn on the Y axis of the current bar to allow for an easy visualization of where price spent most of its time. Historical time profiles are also noted on previous bars with a dash marking the level.
The Time Profile indicator offers several customization options. Traders can adjust the timeframe for the lower time frame data, decide whether to display the time profile, and customize colors for visual clarity.
Additionally, traders can choose to highlight instances where the Volume POC and Time POC align, indicating a strong concentration of volume and price activity.
Don't hesitate to reach out with any questions or concerns.
We hope you enjoy!
Cheers.
Open Interest Profile [Fixed Range] - By LeviathanThis script generates an aggregated Open Interest profile for any user-selected range and provides several other features and tools, such as OI Delta Profile, Positive Delta Levels, OI Heatmap, Range Levels, OIWAP, POC and much more.
The indicator will help you find levels of interest based on where other market participants are opening and closing their positions. This provides a deeper insight into market activity and serves as a foundation for various different trading strategies (trapped traders, supply and demand, support and resistance, liquidity gaps, imbalances,liquidation levels, etc). Additionally, this indicator can be used in conjunction with other tools such as Volume Profile.
Open Interest (OI) is a key metric in derivatives markets that refers to the total number of unsettled or open contracts. A contract is a mutual agreement between two parties to buy or sell an underlying asset at a predetermined price. Each contract consists of a long side and a short side, with one party consenting to buy (long) and the other agreeing to sell (short). The party holding the long position will profit from an increase in the asset's price, while the one holding the short position will profit from the price decline. Every long position opened requires a corresponding short position by another market participant, and vice versa. Although there might be an imbalance in the number of accounts or traders holding long and short contracts, the net value of positions held on each side remains balanced at a 1:1 ratio. For instance, an Open Interest of 100 BTC implies that there are currently 100 BTC worth of longs and 100 BTC worth of shorts open in the market. There might be more traders on one side holding smaller positions, and fewer on the other side with larger positions, but the net value of positions on both sides is equivalent - 100 BTC in longs and 100 BTC in shorts (1:1). Consider a scenario where a trader decides to open a long position for 1 BTC at a price of $30k. For this long order to be executed, a counterparty must take the opposite side of the contract by placing a short order for 1 BTC at the same price of $30k. When both long and short orders are matched and executed, the Open Interest increases by 1 BTC, indicating the introduction of this new contract to the market.
The meaning of fluctuations in Open Interest:
- OI Increase - signifies new positions entering the market (both longs and shorts).
- OI Decrease - indicates positions exiting the market (both longs and shorts).
- OI Flat - represents no change in open positions due to low activity or a large number of contract transfers (contracts changing hands instead of being closed).
Typically, we monitor Open Interest in the form of its running value, either on a chart or through OI Delta histograms that depict the net change in OI for each price bar. This indicator enhances Open Interest analysis by illustrating the distribution of changes in OI on the price axis rather than the time axis (akin to Volume Profiles). While Volume Profile displays the volume that occurred at a given price level, the Open Interest Profile offers insight into where traders were opening and closing their positions.
How to use the indicator?
1. Add the script to your chart
2. A prompt will appear, asking you to select the “Start Time” (start of the range) and the “End Time” (end of the range) by clicking anywhere on your chart.
3. Within a few seconds, a profile will be generated. If you wish to alter the selected range, you can drag the "Start Time" and "End Time" markers accordingly.
4. Enjoy the script and feel free to explore all the settings.
To learn more about each input in indicator settings, please read the provided tooltips. These can be accessed by hovering over or clicking on the ( i ) symbol next to the input.
Open Interest Profile (OI)- By LeviathanThis script implements the concept of Open Interest Profile, which can help you analyze the activity of traders and identify the price levels where they are opening/closing their positions. This data can serve as a confluence for finding the areas of support and resistance , targets and placing stop losses. OI profiles can be viewed in the ranges of days, weeks, months, Tokyo sessions, London sessions and New York sessions.
A short introduction to Open Interest
Open Interest is a metric that measures the total amount of open derivatives contracts in a specific market at a given time. A valid contract is formed by both a buyer who opens a long position and a seller who opens a short position. This means that OI represents the total value of all open longs and all open shorts, divided by two. For example, if Open Interest is showing a value of $1B, it means that there is $1B worth of long and $1B worth of short contracts currently open/unsettled in a given market.
OI increasing = new long and short contracts are entering the market
OI decreasing = long and short contracts are exiting the market
OI unchanged = the net amount of positions remains the same (no new entries/exits or just a transfer of contracts occurring)
About this indicator
*This script is basically a modified version of my previous "Market Sessions and Volume Profile by @LeviathanCapital" indicator but this time, profiles are generated from Tradingview Open Interest data instead of volume (+ some other changes).
The usual representation of OI shows Open Interest value and its change based on time (for a particular day, time frame or each given candle). This indicator takes the data and plots it in a way where you can see the OI activity (change in OI) based on price levels. To put it simply, instead of observing WHEN (time) positions are entering/exiting the market, you can now see WHERE (price) positions are entering/exiting the market. This is the same concept as when it comes to Volume and Volume profile and therefore, similar strategies and ways of understanding the given data can be applied here. You can even combine the two to gain an edge (eg. high OI increase + Volume Profile showing dominant market selling = possible aggressive shorts taking place)
Green nodes = OI increase
Red nodes = OI decrease
A cluster of large green nodes can be used for support and resistance levels (*trapped traders theory) or targets (lots of liquidations and stop losses above/below), OI Profile gaps can present an objective for the price to fill them (liquidity gaps, imbalances, inefficiencies, etc), and more.
Indicator settings
1. Session/Lookback - Choose the range from where the OI Profile will be generated
2. OI Profile Mode - Mode 1 (shows only OI increase), Mode 2 (shows both OI increase and decrease), Mode 3 (shows OI decrease on left side and OI increase on the right side).
3. Show OI Value Area - Shows the area where most OI activity took place (useful as a range or S/R level )
4. Show Session Box - Shows the box around chosen sessions/lookback
5. Show Profile - Show/hide OI Profile
6. Show Current Session - Show/hide the ongoing session
7. Show Session Labels - Show/hide the text labels for each session
8. Resolution - The higher the value, the more refined a profile is, but fewer profiles are shown on the chart
9. OI Value Area % - Choose the percentage of VA (same as in Volume Profile's VA)
10. Smooth OI Data - Useful for assets that have very large spikes in OI over large bars, helps create better profiles
11. OI Increase - Pick the color of OI increase nodes in the profile
12. OI Decrease - Pick the color of OI decrease nodes in the profile
13. Value Area Box - Pick the color of the Value Area Box
14. Session Box Thickness - Pick the thickness of the lines surrounding the chosen sessions
Advice
The indicator calculates the profile based on candles - the more candles you can show, the better profile will be formed. This means that it's best to view most sessions on timeframes like 15min or lower. The only exception is the Monthly profile, where timeframes above 15min should be used. Just take a few minutes and switch between timeframes and sessions and you will figure out the optimal settings.
This is the first version of Open Interest Profile script so please understand that it will be improved in future updates.
Thank you for your support.
** Some profile generation elements are inspired by @LonesomeTheBlue's volume profile script
Real-Time HTF Volume Footprint [BigBeluga]Real-time HTF Volume Footprint Profile is designed to provide a comprehensive view of higher timeframe volume profiles on your current chart. It overlays critical volume information from larger timeframes (like daily, weekly, or monthly) onto lower timeframe charts, helping you spot significant levels where volume is concentrated, acting as potential support or resistance.
🔵 Key Features:
HTF High and Low Zones: The indicator highlights the high and low of the chosen higher timeframe with clear zones, marking them with boxes. These zones help you see the broader market structure at a glance.
Volume Profile within HTF Range: Each higher timeframe range displays a volume profile, showing the distribution of volume at each price level. The most-traded price is highlighted in blue, known as the Point of Control (POC), indicating the price level with the highest activity.
Dynamic POC Option: Activate Dynamic POC to observe how the Point of Control shifts over time, giving insight into changing market interests and potential price direction.
Timeframe Flexibility: Select from daily, weekly, and monthly ranges (and more) to overlay their footprint profiles on your lower timeframe chart. This helps you tailor the indicator to the trading horizon that suits your strategy.
Info Table: Table shows a traders which timeframe is selected with last high and low of the selected timeframe
Visual Clarity with Custom Colors: The indicator uses subtle fills and distinct colors to ensure volume profile data integrates seamlessly into your chart without overwhelming other indicators or price data.
🔵 When to Use:
The HTF Volume Footprint Profile is essential for traders who want to bridge the gap between high-timeframe and intraday analysis. By visualizing HTF volume distribution on lower timeframes, this tool helps you:
Spot potential liquidity zones where price might react.
Identify support and resistance levels within HTF ranges.
Monitor PoC shifts that indicate changes in market behavior.
Track how current price aligns with significant volume clusters, providing a clear edge for volume-based strategies.
This indicator empowers traders to analyze lower timeframes with the context of higher timeframe volume profiles, providing a solid basis for identifying critical support and resistance levels shaped by large volume clusters. Whether you’re looking to spot liquidity zones or align your trades with broader market trends, HTF Volume Footprint Profile equips you with a strategic view.
Open Liquidity Heatmap [BigBeluga]Open Liquidity Heatmap is an indicator designed to display accumulated resting liquidity on the chart.
Unlike any other liquidity heatmap, this aims to accumulate liquidity at specific levels that build up over time, showing larger areas of liquidity.
🔶 FEATURES
The indicator includes the following settings:
Lookback : Used to determine the range calculation of the heatmap.
Leverage : Leverage of the liquidation (Counted as % in price, Example: 4.5 will return a distance from price of 4.5%, indicating any possible resting liquidity in this range).
Levels : Amount of levels to display (Each level is counted as liquidity resting on the chart; fewer levels will return a bigger area of liquidity sitting on the chart).
Mode : Apply a color gradient from the minimum liquidation to the maximum liquidity level. Set the maximum color gradient value (Counted as volume).
Offset : Automatically determine the offset range of the Volume Profiles. Manual offset of the Volume Profiles.
🔶 CALCULATION
for i = 0 to step - 1
float plotter = na
switch i
0 =>
plotter := hs
=>
plotter := hs - diff * ( i )
cls.hm.gnL(plotter)
cls.vp.put(plotter, 0)
We calculate levels like a normal volume profile with steps, from the highest point within the lookback to the lowest one. Each level will contain the corresponding amount of volume that the candle has closed in that range.
As we can see in the image above, we add liquidity each time the distance in % from price is between two levels.
Unlike many liquidity indicators that provide a single candle liquidity heatmap, this aims to add up liquidity (volume) in already present levels.
This can be extremely useful to see which levels are likely to be more liquid and tend to get a bigger reaction to the price.
Imagine it like a range of levels that each time price revisits that area, a new position area is added; we add volume in that area each time price visits that zone. Liquidity builds up in those zones, causing a bigger reaction to the price once the price visits it.
This indicator is not the same as a single candle heatmap like many others. What is a single candle heatmap?
A single candle heatmap is when a level is created on every new candle, coloring the level based on the total volume of it.
This indicator, on the contrary, aims to provide a more specific use by adding up liquidity each time price visits it.
🔶 BASIC DEMOSTRATION
This is a basic demonstration of how we can spot high liquidity points overall using confluence:
We see the POC of the liquidation in a low volume area of the normal volume profile adding up as confluence.
Resistance from the POC Volume Profile suggesting price will go lower.
Major long open liquidity down.
As we can see, price takes out all the long liquidity and right after pumping, indicating that all the major liquidity got taken out.
Some key note to take is that a POC in the liquidation heatmap in a low volume area of the normal Volume Profile add confluence of a possible big reaction in that zone.
In the forex market, we suggest to use a low distance from price (Leverage) while in a crypto market you can use the one that fit the best the current timeframe.
🔶 CONCLUSION
This indicator aims to show open resting liquidity that had built up over time, showing the most amount of liquidation in specific areas in an aggregated way unlike many liquidation heatmap indicators that show single-level liquidation.
🔶 RELATED SCRIPT
OI Visible Range Ladder [Kioseff Trading]Hello!
This Script “OI Visible Range Ladder” calculates open interest profiles for the visible range alongside an OI ladder for the visible period!
Features
OI Profile Anchored to Visible Range
OI Ladder Anchored to Visible Range
Standard POC and Value Area Lines, in Addition to Separated POCs and Value Area Lines for each category of OI x Price
Configurable Value Area Targets
Curved Profiles
Up to 9999 Profile Rows per Visible Range
Stylistic Options for Profiles
Up to 9999 volume profile levels (Price levels) can be calculated for each profile, thanks to the new polyline feature, allowing for less aggregation / more precision of open interest at price.
The image above shows primary functionality!
Green profiles = Up OI / Up Price
Yellow profiles = Down OI / Up Price
Purple profiles = Up OI / Down Price
Red profiles = Down OI / Down Price
The image above shows POCs for each OI x Price category!
Profiles can be anchored on the left side for a more traditional look.
The indicator is robust enough to calculate on “small price periods”, or for a price period spanning your entire chart fully zoomed out!
That’s about it :D
This indicator is Part of a series titled “Bull vs. Bear” - a suite of profile-like indicators.
Thanks for checking this out!
If you have any suggestions please feel free to share!
Range Analysis - By LeviathanThe Interactive Range Analysis script is an essential tool for analyzing price ranges. It automatically draws important range levels, generates a Volume Profile or Open Interest profile and horizontal/vertical heatmaps, plots the anchored VWAP, draws Fibonacci levels, and much more.
How to use the indicator:
1. The script will prompt you to select the "Start Time" and "End Time" using Tradingview's interactive interface. These two points will determine the length of the range.
2. Once you have selected the range, the script will automatically anchor the range highs and lows to the highest and lowest close/wick/hlc3/ohlc4 (whichever you prefer).
3. You can then begin exploring different tools and options such as Quarters, Eighths, Fibonacci, Outer Levels, VWAP, Horizontal Volume/OI Heatmap, Vertical Volume/OI Heatmap, Fixed Range Volume Profile, Open Interest Profile, Value Area, VAH, VAL, and POC.
4. You can adjust the range by dragging the Start Time and End Time anchors or by removing/reapplying the script.
Tool overview
Range Levels
After selecting your preferred time range, the script will identify and draw a range high level and a range low level, which serve as a base for other important levels. “Half” is the level halfway between the range high and range low. “Quarters” will, as the name suggests, split the range into four equal zones (quarters) and “Eighths” will split the range into eight equal zones (eighths).
”Fibonacci” option allows you to display Fibonacci retracement levels (0.786, 0.618, 0.382, 0.236). “VWAP” will plot a Volume Weighted Average Price, anchored to the start of the range. “Direction” input lets you choose whether your range is UP or DOWN trending in order to make sure that the Fibonacci levels and labels are generated and assigned correctly. With “Outer” turned ON, the script will also generate active levels (quarters/eighths/Fibonacci) above and below the selected price range. “Extend Right” will extend all levels to the right indefinitely, while “Extend (+Bars)” lets you choose how far right the levels get extended. “Diagonal Line” is drawn from the bottom left of the range to the top right of the range or from the top left of the range to the bottom right of the range, depending on the “Direction” input.
Volume Profile / Open Interest Profile
After selecting the “Data Type”, Volume Profile or OI Profile can be generated by turning ON the “Volume/OI Profile” option.
“Resolution” input defines the amount of nodes/rows in the range that are used in profile/heatmap generation for distributing the data. While you can increase the “Resolution” to get better, more granular profiles, you should keep in mind that you might need to lower the resolution when generating profiles for larger ranges.
”Node Type” offers you two options when it comes to the representation of data: Up/Down - divides a node in two sections for up volume/OI and down volume/OI, Total - one node for total volume/OI and Delta - net difference in up volume/OI and down volume/OI.
”Profile Position” lets you choose whether the profile is positioned on the left side of the range or on the right side of the range.
“Profile Direction” determines whether the profile nodes are facing right or left.
“Profile Type” enables you to visualize the nodes in a classic way (Type 1) or in a way where down volume/negative OI are positioned on the left side of the y axis and up volume/positive OI on the right side of the y axis.
“Node Size (%)” defines how much space in the range can be taken by the profile’s nodes. Eg. 50% will allow the largest node to extend to the middle of the range (and others scaled accordingly), 100% will allow the largest node to extend the max right point of the range (and others scaled accordingly).
”Value Area (%)” defines the VA zone, which represents the area where the most volume occured (usually 70% or 68%).
”Horizontal Heatmap” will display a heatmap-like overlay, that will help you identify the price levels where most volume/open interest action occurred.
”Vertical Heatmap” will display a heatmap-like overlay, that will help you identify the points in time where most volume/open interest action occurred.
A more detailed description of this indicator is coming in the next few days.
Important:
* If volume or OI profile does not get generated, try lowering the resolution.
* Once in a while, the script will disappear from your chart. Just remove and reapply.
* Open Interest data is only avaiable on Binance Perpetual Futures pairs
To learn more, read the tooltips in the indicator’s settings and stay tuned for upcoming additions (Range Market Structure, Liquidation Levels, Range Statistics,…)
Market Core [BigBeluga]MARKET CORE Toolkit
The BigBeluga Market Core Toolkit is a comprehensive suite of advanced trading indicators designed to provide traders with a holistic view of market dynamics, structure, and potential opportunities.
In an ever-evolving market, relying on a single indicator can leave traders vulnerable to gaps in their analysis. The BigBeluga Market Core Toolkit addresses this challenge by integrating a range of complementary indicators that work synergistically to reveal the full picture. From detecting key support and resistance levels to identifying market structure shifts, volume imbalances, inefficiencies or analysis of money flow, this toolkit covers every aspect of market behavior.
⬤ Order Blocks
BigBeluga Order Blocks revolutionize the way traders visualize potential areas of significant market activity. Unlike traditional order block indicators that often result in cluttered, noisy charts, these Order Blocks are designed for clarity and effectiveness. They simulate and predict where large areas of market orders may rest by analyzing volume and volatility, providing excellent support or resistance areas.
The blocks offer cleaner chart presentation with reasonable distribution, volume ratio visualization within each block, and categorization into Strong, High and Balanced blocks.
Additionally, a third line has been introduced to rank order blocks by volume using a modified percent rank method for more precise ranking.
This ranking system uses percentile ranks, a concept commonly used in standardized tests. In the context of order blocks, the percentile rank of a particular order block's volume is interpreted as the percentage of the order blocks strength. This method provides a more nuanced and statistically robust way of comparing and prioritizing order blocks.
Key features:
Cleaner chart presentation with reasonable distribution of blocks
Volume ratio visualization within each block (bullish vs bearish)
Categorization into High and Balanced blocks for easy identification of significant levels
Relative volume percentage and volume delta display
Advanced ranking system using modified percent rank method for volume comparison
These Order Blocks help traders:
Forecast excellent support or resistance areas
Gain insight into the balance of the market at specific levels
Identify significant market levels at a glance
Visualize market imbalances through volume delta
Prioritize order blocks based on their relative volume importance
Make more informed decisions about potential entry and exit points
⬤ Beluga Profile
The Beluga Profile is a revolutionary market analysis tool that transforms complex market data into a clear, intuitive visual narrative. At its core, it combines a Dual-Profile Analysis, merging Delta Volume Profile with Money Flow Profile to give traders a comprehensive view of market dynamics.
The percentage scale on the left side aren't just numbers; they represent the Levels Strength Percentage, a crucial ranking system that immediately draws your attention to the most significant price zones. Complementing this, a heat map overlay brings these strength levels to life, offering an instant, color-coded representation of where the market's most influential areas lie.
To the right, a detailed breakdown of volume and money flow for each level provides the hard data behind the visual cues. This granular information allows you to dive deep into the market's structure, understanding not just where the significant levels are, but why they matter.
Below the main chart, the Delta Volume Bar serves as a foundation, showing the average delta of the volume profile. This bar is more than just a measure of volume – it's a window into the underlying forces driving price movement. Just above this bar, a macro trend indicator in the form of an arrow offers a quick, clear signal of the overall market direction based on these delta volume calculations.
But the Beluga Profile doesn't just show you what's happening – it helps you understand the 'why' and 'how'. The Adaptive Points of Interest feature allows you to customize your analysis, focusing on the areas that matter most to your trading strategy. You can select from various options including Money Flow, Delta+, Delta-, Volume+, and Level % (Highest), tailoring the display to your specific analytical needs. This flexibility ensures you can focus on the most relevant data for your trading style. Real-time Active Price Tracking ensures you're always in sync with the latest market movements.
All of these elements work in concert, creating a symphony of market information. They empower you to:
Spot key price levels with uncanny precision
Foresee potential market turns before they happen
Grasp the quality and strength of price moves
Adjust your strategy on the fly as market conditions shift
Develop a holistic understanding of market structure and participant behavior
Make informed decisions backed by a clear view of the overall market trend
In essence, the Beluga Profile isn't just a tool – it's your market storyteller, translating the complex language of price, volume, and money flow into a narrative that you can understand and act upon with confidence.
⬤ Smart Money Concepts (SMC)
The Smart Money Concepts component of the toolkit focuses on automatically detecting key market structures crucial in technical analysis. It identifies and visualizes Break of Structure (BOS) and Change of Character (CHOCH) patterns, helping traders spot potential trend reversals and significant market movements. This includes BOS identification when price breaks previous support or resistance and CHOCH detection for potential trend reversals, with automatic detection of both bullish and bearish patterns.
The latest enhancement to this feature adds a new layer of analysis through Delta Volume Calculation. When a BOS or CHOCH is detected, the toolkit calculates the delta volume within the range from the high or low point to the break point. This analysis considers all the candles in this range and determines whether the volume is predominantly bullish, bearish, or neutral.
Bullish Volume: If the delta volume is bullish, a green diamond is plotted at the high or low point, indicating potential upward momentum.
Bearish Volume: If the delta volume is bearish, a red diamond is plotted, suggesting downward pressure.
Neutral Volume: When the volume is neutral, a yellow diamond is displayed, indicating a balance in buying and selling forces.
This visual representation of volume dynamics provides an additional layer of insight, helping traders assess the strength and direction of price movements following a structure break. You can see an example of this on the attached image, where the diamonds clearly indicate the type of volume driving the breakout.
The toolkit also incorporates Fair Value Gap (FVG) Detection. Fair Value Gaps represent inefficiencies in the market, where there is an imbalance between buy and sell orders. These gaps often act as magnets for price, potentially leading to future reversals or continuations when filled. The toolkit identifies and highlights these gaps, allowing traders to recognize areas where the market may seek to rebalance.
Additionally, Double Top and Bottom Pattern Detection has been integrated, identifying potential reversal points at these classic price formations. Double tops signal potential bearish reversals after a price peak, while double bottoms suggest potential bullish reversals after a price dip. These patterns can be crucial indicators for traders looking to capitalize on upcoming trend changes.
Smart Money Concepts help traders:
Identify potential trend reversals early with a clearer view of market structure.
Recognize significant changes in market structure and volume participation.
Differentiate between temporary pullbacks and genuine trend changes using volume insights (color coded diamonds).
Shows Fair Value gaps which helps to identify price momentum and inefficiencies in the market.
This enhancement ensures that traders can not only see structural changes but also understand the volume behind those moves, leading to more informed and confident trading decisions.
⬤ Support and Resistance Levels
This powerful tool is designed to identify key price levels in the market, providing traders with a clear visual representation of potential support and resistance areas. It goes beyond simple level identification by incorporating a sophisticated ranking system and adjustable sensitivity.
The grading system of levels is a unique feature that evaluates the significance of high and low points in the price action. It takes into consideration how many times the price has touched or interacted with specific levels. This means that levels which have been tested multiple times are given higher importance in the ranking. For example, a price level that has acted as support or resistance three times will be ranked higher than a level that has only been touched once.
By leveraging this grading system, traders can focus on the most significant levels that have repeatedly influenced price action, potentially improving the accuracy of their trading decisions and risk management strategies.
This Support and Resistance Levels indicator helps traders:
Identify and prioritize potential reversal points based on their historical significance and frequency of price interaction
Set more accurate entry and exit points aligned with key market levels, focusing on those with higher ranking
Understand the hierarchical structure of market support and resistance, distinguishing between major and minor levels
Plan stop-loss and take-profit levels with greater precision, using the ranking to gauge the strength of each level
Adapt their analysis to varying market strengths and volatilities, with the ability to filter out less significant levels
Recognize recurring price patterns and potential breakout levels based on the ranked historical price interactions
⬤ How to Use the Toolkit
Each of these indicators, while powerful on its own, works synergistically with the others to provide a more complete picture of the market.
The strength of this toolkit lies in its ability to analyze the market from multiple perspectives
Combining these advanced trading indicators into a cohesive toolkit empowers traders with a comprehensive, multi-dimensional view of the market that no single indicator could provide on its own. The market's complexity demands an approach that goes beyond relying on just one aspect, such as price action, volume, or order flow. Integrating these diverse indicators creates a robust analytical framework that captures the market from multiple angles, leading to more accurate insights and better-informed decision-making.
Analyze Order Blocks to identify potential support/resistance and volume imbalances
Use Beluga Profile for comprehensive market structure and trend analysis
Monitor SMC indicators for potential trend reversals and breakouts
Utilize Support and Resistance Levels for precise entry/exit points and risk management
Combine insights from all tools for a multi-dimensional view of market conditions
⬤ Customization
Each component of the toolkit offers various customization options to suit different trading styles and preferences. These inputs allow traders to adjust settings to better fit their analysis needs and strategies:
Order Blocks
- Order Blocks : Set the amount of Order Blocks on the chart.
- Color Selection : Choose the color for highlighting the order blocks on your chart.
Market Structure
- Sensitivity : Adjust the sensitivity for detecting market structure breaks. Higher sensitivity will detect more granular breaks, while lower sensitivity focuses on more significant movements.
- Data : Enable or disable the display of market structure data.
- Zigzag Option : Toggle Zigzag displays from highs and lows.
S/R (Support and Resistance)
- Sensitivity : Control how sensitive the tool is in detecting support and resistance levels. Lower sensitivity will highlight fewer but stronger levels, while higher sensitivity may reveal more levels.
- Width % : Adjust the width of the support and resistance zones to visually emphasize their importance.
- Color Selection : Choose colors for both support and resistance levels for better clarity.
FVG (Fair Value Gap)
- Max : Set the maximum number of fair value gaps to display. Higher values will show more gaps, while lower values will focus on the most prominent ones.
- Color Selection : Customize the color for the fair value gap areas.
Volume Profile
- Length : Define the look-back period for the volume profile analysis. A longer length considers more historical data, while a shorter length focuses on recent data.
- Levs : Choose the number of volume levels to display, allowing for more or fewer volume bars within the profile.
- BG : Enable or disable background shading for the volume profile.
- HeatMap : Activate or deactivate the heat map overlay for volume intensity visualization.
- POC (Point of Control) : Toggle the Point of Control display and choose between different metrics, such as volume+, money flow, Delta+ and Delta-, Level % (Highesr), to base the POC on.
- Color Selection : Customize the color for the Point of Control line.
These customization options provide traders with the flexibility to tailor the toolkit to their specific trading strategies, enhancing their ability to identify key market signals with precision.
Each component of the toolkit offers various customization options to suit different trading styles and preferences.
The BigBeluga Market Core Toolkit synthesizes complex market data into clear, actionable formats, providing traders with professional-level insights. It's a comprehensive market analysis system that can give traders a significant edge in understanding market behavior and identifying high-probability trade setups. While highly effective, it's recommended to use this toolkit in conjunction with fundamental analysis and sound risk management practices for optimal trading results.
Market Structure Volume Distribution [LuxAlgo]The Market Structure Volume Distribution tool allows traders to identify the strength behind breaks of market structure at defined price ranges to measure de correlation of forces between bulls and bears visually and easily.
🔶 USAGE
This tool has three main features: market structure highlighting, grid levels, and volume profile. Each feature is covered more in depth below:
🔹 Market Structure
The basic unit of market structure is a swing point, the period of the swing point is user-defined, so traders can identify longer-term market structures. Price breaking a prior swing point will confirm the occurrence of a market structure.
The tool will plot a line after a market structure is confirmed, by default the lines on bullish MS will be green (indicative of an uptrend), and red in case of bearish MS (indicative of a downtrend).
🔹 Grid Levels
The Grid visually divides the price range contained inside the tool execution window, into equal size rows, the number of rows is user-defined so users can divide the full price range up to 100 rows.
The main objective of this feature is to help identify the execution window and the limits of each row in the volume profile so traders can know in a simple look what BoMS belongs to each row.
There is however another use for the grid, by dividing the range into equal-sized parts, this feature provides automatic support and resistance levels as good as any other.
Grid provides a visual help to know what our execution window is and to associate MS with their rows in the profile. It can provide S/R levels too.
🔹 Volume Profile
The volume profile feature shows in a visually easy way the volume behind each MS aggregated by rows and divided into buy and sell volume to spot the differences in a simple look.
This tool allows users to spot the liquidity associated with the event of a market structure in a specific price range, allowing users to know which price areas where associated with the most trading activity during the occurrence of a market structutre.
🔶 SETTINGS
🔹 Data Gathering
Execute on all visible range: Activate this to use all visible bars on the calculations. This disables the use of the next parameter "Execute on the last N bars". Default false.
Execute on the last N bars: Use last N bars on the calculations. To use this parameter "Execute on all visible range" must be disabled. Values from 20 to 5000, default 500.
Pivot Length: How many bars will be used to confirm a pivot. The bigger this parameter is the fewer breaks of structure will detect. Values from 1, default 2
🔹 Profile
Profile Rows: Number of rows in the volume profile. Values from 2 to 100, default 10.
Profile Width: Maximum width of the volume profile. Values from 25 to 500, default 200.
Profile Mode: How the volume will be displayed on each row. "TOTAL VOLUME" will aggregate buy & sell volume per row, "BUY&SELL VOLUME" will separate the buy volume from the sell volume on each row. Default BUY&SELL VOLUME.
🔹 Style
Buy Color: This is the color for the buy volume on the profile when the "BUY&SELL VOLUME" mode is activated. Default green.
Sell Color: This is the color for the sell volume on the profile when the "BUY&SELL VOLUME" mode is activated. Default red.
Show dotted grid levels: Show dotted inner grid levels. Default true.
Supply, Demand and Equilibrium Zones, Interactive by DGTSupply, Demand and Equilibrium Zones, Interactive
The law of supply and demand is a theory that explains the interaction between the sellers of an asset and the buyers for that asset. The theory defines the relationship between the price of a given asset and the willingness of traders to either buy or sell it. Generally, as price increases, traders are willing to supply more and demand less and vice versa when the price falls.
Simply said, the higher the price, the lower the quantity demanded, and from the seller's perspective, the higher the price, the higher the quantity supplied
Equilibrium zones are the price levels where both selling and buying trading activity is high, both sellers and buyres are interested at that price levels. More correctly, there is a great deal of activity on both the buy and sell side and the market stays at that price level for a great deal of time. Supply and demand are balanced or in equilibrium
Supply and Demand Shifts may occur when institutional investors step in, a change in both price and quantity demanded from one point to another
This experimental study attempts to presend Supply, Demand and Equilibrium Zones by measuring traded volume at all price levels on the market over a specified time period. Then the result is plotted as horizontal zones on the finacial isntrumnet's chart that highlights supply, demand and equilibrium zones at specific price levels
It is important for supply, demand and equilibrium zones to understand that time is always a dimension on charts. The quantity demanded or supplied, found along the horizontal axis, is always measured in traded volume of the asset over a given time interval. Longer or shorter time intervals can influence the levels of supply, demand and equilibrium zones
The study is made interactive, which requires the users to select two points on the chart, by simply clicking on the chart. In case the user would like to view different range then just dragging the vertical lines will be enough
By increasing/decreasing values for supply and demand zones or equilibrium zones, you will either get the zones enlarged or detect supply and demand shifts or other equilibrium zones
It is adviced to use this study in conjuction with a Volume Profile study, such as Volume-Profile-and-Volume-Indicator , Volume-Profile-Custom-Range , Anchored-Volume-Profile , and Price-Action-Support-Resistance , where volume profiles presents trading activities at specific price levels and Supply and Demand Zones can be treated as Value Area (they are not exact same but similar) for Volume Profiles
Disclaimer: Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely
The script is for informational and educational purposes only. Use of the script does not constitutes professional and/or financial advice. You alone the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold dgtrd TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script
