Metrics TJ

📘 Metrics TJ

Author: Trade Journey
Type: Market Metrics / Intraday
Timeframes:

Context: 1H
Entry Points: 15m

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🎯 Core Idea

Metrics TJ is a powerful market metrics tool designed for intraday traders. It provides essential market data — including volume, ATR (Average True Range), and correlation with other assets — to help you make informed decisions. By combining multiple indicators into a unified view, this tool allows you to spot key trends, volatility, and relative strength within a single chart.

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🔍 Strategy Logic

1. Context (1H)
Before making intraday decisions on smaller timeframes (such as the 15m chart), use the 1H timeframe to understand the broader market context:

Look at candle structure, levels, volume, and other signals to identify if the market is trending or consolidating.
Example: If the 1H chart shows rising volume and a series of higher highs and lows, it indicates an uptrend.

2. Core Metrics

Day Volume (DV): Total volume traded over the past 24 hours. A sharp increase may indicate increased market interest and potential for higher volatility.
Average Volume (AV): A smoothed average volume over a set period. Spikes in average volume can highlight unusual activity, signaling potential moves.
ATR (NATR): Measures the market's volatility. A high ATR means the market is moving more dynamically, often correlating with larger price moves.
Correlation (CR): Measures how strongly the asset is correlated with a reference pair, such as BTC. A strong positive or negative correlation could indicate an impending move or reversal.

3. Trade Filter
To improve the accuracy of the strategy:

Use Volume and ATR thresholds to filter out low-volatility or range-bound conditions.
Correlation with a reference asset helps identify when the market's behavior diverges from its usual pattern.

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📈 Example of Entry Logic

1. On 1H: The market is in a confirmed uptrend, with rising volume and a series of higher highs.
2. On 15m: You observe an increase in Day Volume and Average Volume signaling potential for a breakout.
3. ATR is high, showing the market is volatile — indicating a good environment for intraday trading.
4. Correlation with BTC shows strong positive correlation, suggesting a price move in sync with the larger crypto market.
5. Trade Decision:

Enter long if the conditions are met: Volume spikes, ATR confirms volatility, and correlation supports the price direction.
Exit if volume decreases, ATR drops, or if the correlation weakens.

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⚙️ Settings
(tradingview\.com/x/Y6PjccKy/)

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📊 Why It Works

Day Volume and Average Volume help identify unusual activity, potentially signaling a price move.
ATR highlights periods of high volatility, which are crucial for intraday trading.
Correlation with major assets (like BTC) gives additional context on the market's broader movement, improving the probability of profitable trades.
Using a combination of volume and ATR reduces the likelihood of false signals, especially in choppy or low-volume environments.

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🔔 Recommendations

Best used in strong trending markets where volume and volatility are in sync.
Avoid trading in range-bound conditions where price action lacks momentum.
Use this strategy as a supplement to other technical indicators or as part of a larger trading system.

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✅ Conclusion

Metrics TJ provides a holistic view of the market, combining key metrics to help traders make smarter intraday decisions. By focusing on volume, volatility, and correlation, it can help you spot high-probability trades and avoid noise.

Try it on demo, adjust the settings to fit your trading style, and start identifying profitable opportunities!

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📌 Important Note:
This indicator is best used in combination with higher timeframe analysis. Always consider the broader market context before making any trades.