Wyckoff Method Indicator v2.5

7 giorni fa

# Wyckoff Method Indicator v2.5

A comprehensive technical analysis tool based on Richard Wyckoff's market methodology to identify market phases, support/resistance levels, and key Wyckoff events.

## Key Features:

- **Market Phase Detection**: Automatically identifies Accumulation, Re-Accumulation, Markup, Distribution, Re-Distribution, and Markdown phases
- **Wyckoff Event Recognition**: Detects key events including:
• Accumulation: SC (Selling Climax), AR (Automatic Rally), ST (Secondary Test), Spring, LPS (Last Point of Support), SOS (Sign of Strength), BEC (Backup to Edge of Creek)
• Distribution: BC (Buying Climax), AR (Automatic Reaction), ST (Secondary Test), UT (Upthrust), UTAD (Upthrust After Distribution), LPSY (Last Point of Supply), SOW (Sign of Weakness)
- **Support/Resistance Visualization**: Highlights key zones with color-coded boxes
- **Volume Analysis**: Identifies high-volume bars with color-coded markers
- **Effort vs. Result Analysis**: Compares volume changes to price movements to detect divergences
- **Price-Scaling EMAs**: Three smoothly-scaling moving averages that properly track with price movements
- **Comprehensive Legend**: Easily understand all indicators with the built-in legend

## Customizable Settings:

- Lookback periods
- Volume thresholds
- Range multipliers
- Display options for various components
- Legend positioning

## What's New in v2.5:
- Improved EMA scaling with price action
- Enhanced event detection logic
- Dark mode-friendly color palette
- Optimized visual elements for better chart clarity

Perfect for swing traders and position traders following Wyckoff methodology. This indicator helps identify accumulation and distribution zones, potential breakouts, and market transitions.

Disclaimer: This indicator is for informational purposes only and should not be considered financial advice. Always conduct your own analysis before making trading decisions.

7 giorni fa

Note di rilascio

The Wyckoff Method Indicator has been enhanced with Right Side Confirmation (RSC) capabilities, making it a more powerful tool for traders following Wyckoff methodology. This update introduces intelligent buy and sell signals based on Wyckoff's principles of market structure, volume analysis, and supply/demand dynamics.
New Features:
Right Side Confirmation System:

Detects high-probability trading opportunities by validating key Wyckoff events
Implements volume decrease detection during tests of support and resistance
Confirms price action through recovery/decline ratio analysis
Adds clear BUY/SELL signals at optimal entry and exit points

Intelligent Signal Detection:

Identifies Last Point of Support (LPS) after Signs of Strength (SOS) or Springs
Recognizes Last Point of Supply (LPSY) after Signs of Weakness (SOW) or Upthrusts
Detects Backup to Edge of Creek (BEC) opportunities with price recovery
Provides visual confirmation with color-coded labels and directional triangles

Advanced Noise Reduction:

Reduces chart clutter with minimum spacing between signals
Implements pivot confirmation for more reliable signal generation
Filters out weaker signals based on customizable criteria
Maintains cleaner charts while preserving important market structure information

Customizable Sensitivity Controls:

Three sensitivity levels (Low/Medium/High) to control signal frequency
Adjustable volume threshold for confirmation
Customizable price recovery ratios for signal validation
Minimum bar spacing settings to prevent signal clustering

Enhanced Visual Elements:

Comprehensive legend with detailed explanation of all signal types
Color-coded events for easier identification of market phases
Real-time display of current sensitivity and noise reduction settings
Clear distinction between different types of buy and sell signals

This update makes the Wyckoff Method Indicator more practical for day-to-day trading decisions while maintaining the theoretical foundation of Wyckoff analysis. The Right Side Confirmation system helps traders identify the highest probability setups by focusing on the confirmation of market structure through volume and price action.