This script uses the idea behind Bollinger Bands and Market Facilitation Index.
This is not a trend direction indicator. Use this for confirmation only.
Green Bars : High Volume and High Volatility
Yellow Bars : Low Volume and Low Volatility
Blue Bars : Low Volume but High Volatility
Pink Bars : High Volume but Low Volatility
In volatile markets, normal indicator suffer from volume spikes that make the rest of plot seem non-existent.
Using logarithmic exponent, this indicator normalizes the volume, so this makes it easier to read.
The obvious drawback is that it does not display the actual volume amount, only a relative value.
This is a simple study that combines MFI and RSI and provides buy/sell alerts.
The red lines are MFI.
the blue lines are RSI.
Boundries are colored as the indicators and are user configurable.
Black triabgles are buy/sell points when both MFI and RSI are overbought/sold.
Bullish and bearish engulfing candles marked with horizontal lines around engulfed candle. Currently looks a max of 2000 bars back.
This indicator can be used to assist in locating potential supply and demand zones.
The fresh zones will be of green and red line colors and the tested zone lines are grey in color.
Bull and Bear force/power indicator with price action signal at Oversold or Overbought Area.
GREEN Bar indicates Bull is in control
RED Bar indicates Bear is in control.
LENGTH of the bar indicate the strength of Bull or Bear.
Example of BUY
Usage#1 :
Potential BUY if the RED bar turned GREEN. (Best to Long if RED turn GREEN happen at Support)
Potential SELL...
ChaosV- Chaos Volume, is another Bill Williams' style indicator. It's essentially the Profitunity Candles, but in a Volume Bar setup. It incorporates MFI, to determine if a bar meets the Green, Squat, Fade or Fake requirements, as set by Bill Williams in his book Trading Chaos.
Profitunity Candles have 4 labels, based off Bill Williams' work, particularly in his "Trading Chaos" book....Candles will generally be a Green, Squat, Fade or Fake. This is determined by Volume and MFI....Basically alerting you to the efficiency of the market at any given moment. You can research the meaning of the 4 types on your own, Google is your Friend.
Free indicator
To get it, add it to your favorites using the button below, then you will find it on your chart in the "favorites scripts" tab
I wanted to have a tool that would quickly show me an overview of the Bitcoin chart each day, and receive alerts when something was happening, so I made this indicator.
Optimized for Bitcoin / USD on the daily...
This is one of my fav script (Leledec Exhaustion). The original script was written in V2 by Glaz here
All I did is to convert this to Version 4 of Pine Scripting language.
An Exhaustion Bar is a bar which signals the exhaustion of the trend in the current direction. In other words, an exhaustion bar is “A bar of the last seller” in case of a downtrend and “A...
Weis Wave study price and volume relationship to generate waves chart(positive wave-uptrend, negative wave-downtrend) that aims to identify reversals and pullbacks. On top of that, bars are color-coded with Awesome Oscillator for confirmation. Green positive bars may indicate long opportunity and negative red bars may indicate short opportunities.
For some reason...
Hello guys,
"Volume Candle Ichimoku v1.0" as an auxiliary indicator can be used to get confirmation with your trading strategy.
For example, when your strategy gives a BUY signal and the price is moving up but "Volume Candle Ichimoku" gives low volume signal, we can conclude that something is wrong and probably price movement is not strong enough or vice versa...
