Barometer

Barometer is a comprehensive market state analysis tool that synthesizes multiple market dimensions into a single, actionable reading. Like a weather barometer predicts atmospheric conditions, this indicator forecasts market "weather" by combining trend, volatility, volume, range, and momentum analysis.

Stop guessing about market conditions. The Barometer tells you exactly what state the market is in and quantifies it with a score from -12 to +12.


█ THE BAROMETER CONCEPT

The indicator creates a composite score by analyzing five key market dimensions:

📈 TREND ANALYSIS (Score: -3 to +3)
• Short-term trend (fast EMA)
• Medium-term trend (intermediate EMA)
• Long-term trend (slow EMA)
• MA alignment bonus when all aligned

📊 VOLATILITY ANALYSIS (Score: -2 to +2)
• ATR percentile ranking
• High/Low volatility detection
• Expansion/Contraction identification

📦 VOLUME ANALYSIS (Score: -2 to +2)
• Volume relative to moving average
• Climax and dry-up detection
• Volume trend analysis

📐 RANGE ANALYSIS (Score: -2 to +2)
• Bar range vs average range
• Expansion/Contraction states
• Wide bar and narrow bar detection

🚀 MOMENTUM ANALYSIS (Score: -2 to +2)
• RSI-based momentum scoring
• Overbought/Oversold detection
• Optional component


█ MARKET STATES

The composite score translates into five market states:

🔥 STRONG BULL (Score ≥ 5)
Most conditions aligned bullish
High probability trend continuation
Aggressive long opportunities

📈 BULL (Score 2-4)
Generally bullish conditions
Some components may be neutral
Standard long setups favored

➖ NEUTRAL (Score -1 to +1)
Mixed or transitional conditions
Caution advised
Wait for clarity

📉 BEAR (Score -2 to -4)
Generally bearish conditions
Some components may be neutral
Standard short setups favored

❄️ STRONG BEAR (Score ≤ -5)
Most conditions aligned bearish
High probability trend continuation
Aggressive short opportunities