Pressure - Buying and Selling

16 feb 2023

This is the Pressure Indicator.
The Pressure Indicator analyzes a number of price ratios to measure the pressure of Buyers and Sellers.

I’ve also added to the indicator:
1) Moving Averages (MA) – You can choose 3 types of MA:
- Simple Moving Average (SMA)
- Exponential Moving Average (EMA) - default
- Volume Weighted Moving Average (VWMA)
- Arnaud Legoux Moving Average (ALMA)
By default the MA are not displayed. You can turn them on or off.

2) Standard Deviation Bands and MA Bands – Bands only for the MA type 1 selection. Usually, the Pressureis inside the Bands. If it is beyond the Bands that could mean the current trend is ending. The MA Bands are turned off by default but you can turn them on the Styles Tab Menu.

3) Levels for Overbought and Oversold Zones:
- Gray Overbought 60
- Gray Oversold 40

4) Levels for Buying and Selling Pressure (3 types of pressure + 1 more). If the Pressure is crossing various intermediate levels that means there is Buying or Selling Pressure at those levels.

5) Signals for Crossing Overbought and Oversold Levels:
- Top Red fills for Crossing Down Overbought Level
- Bottom Lime fills for Crossing Up Oversold Level

6) Signals for Buying and Selling Pressure:
- Buy Pressure 1 and 2 are the smaller lime dots.
- Buy Pressure 1 and 2 together are the bigger lime dots.
- Buy Pressure 3 (Crossing Deviation Bands Up) are the blue dots.
- Sell Pressure 1 and 2 are the smaller red dots.
- Sell Pressure 1 and 2 together are the bigger red dots.
- Sell Pressure 3 (Crossing Deviation Bands Down) are the orange dots.

If there are more than one dot appearing at the same moment they will appear displaced in a vertical way at the same time.

If there is something wrong with the code or its calculations, please let me know.
If you want to modify or improve the code, feel free to do that, but please let me know the changes you made.

This Indicator is very accurate when using the Weekly Timeframe . I hope you enjoy it!