Public & Pro Action

Based on Larry Williams Pro-Go logic for public and pro actions. This indicator works on all timeframes.

The public action is previous close to today's open.
The pro action is today's close to today's open.

The series is smoothened with a simple moving average.

It works best after the candle is formed.

Note di rilascio:

• Introducing advanced mode to interpret data
  

Explanation of Advanced Mode
Bars above zero line mean Pro average is higher than Public average
Bars below zero line mean Public average is higher than Pro average
Green Bar: Close price on that bar is higher than the simple moving average of close of average
Red Bar: Close price on that bar is lower than the simple moving average of close of average
Grey Bar otherwise

I can see that when ever a "switch-over" is happening the bars start to turn grey. This can be a good indication of an upcoming move or trend reversal.

Note di rilascio:

• Added title
  

Note di rilascio:

• Added a new "Bar" mode
  

Bar mode, is a crude plot of just saying if Pro is more active (Teal) or Pub is more active (Maroon). No trend analysis and no levels. This mode is useful when you need to just understand is it "ON" or "OFF" with the big players and don't want to bother yourselves with the trend or the turns.