This indicator purely uses to plot the graph. The indicator helps in conforming a breakout strategy.
This indicator is advanced version of my previously developed indicator you can check this link
Total is made up of buying and selling . Buying is the number of shares, contracts, or lots that were associated with green bars, and selling is the number that were associated with red bars.
The labels on the right side are the current bar value and that days bulls /bears weightage.
- the first value shows the current bar .
- second value show the bulls weight in %
- third value show the bears weightage throughout the day ( %)
- The Blue plot in graph keeps the track of bulls movement in intraday( %)
- The Red plot in graph keeps the track of bears movement in intraday ( %)
X axis is time.
Y axis ranges from 100 to -100
I use 1:2 risk to reward ratio. Do your own research.
**not a financial advice**
Example of price increasing, decreasing
this indicator can be used for confirming a breakout strategy with bulls or bears in action. In the current example, the buyer’s percentage is reducing and the price is increasing throughout the day. Hence a breakout of the trendline is confirmation of a short trade.
Example of Price reducing, decreasing
example of price moving down , bears losing the grip
Example of price decreasing increasing
Thanks to nizar9599 for giving idea to improve my previous indicator.
Any and all liability for risks resulting from investment transactions or other asset dispositions carried out by the user based on information received or a market analysis is expressly excluded by me.
All the information made available here is generally provided to serve as an example only, without obligation and without specific recommendations for action. It does not constitute and cannot replace investment advice. We therefore recommend that you contact your personal financial advisor before carrying out specific transactions and investments.
Do your own research, This is not a financial advice.
Now you can play with timeframe other than intraday
you can change it in the settings.
Nello spirito di condivisione promosso da TradingView, l'autore (al quale vanno i nostri ringraziamenti) ha deciso di pubblicare questo script in modalità open-source, così che chiunque possa comprenderlo e testarlo. Puoi utilizzarlo gratuitamente, ma il riutilizzo del codice è subordinato al rispetto del Regolamento. Per aggiungerlo al grafico, mettilo tra i preferiti.
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Great Work Really Nice 1 Small Suggestion - can you add Avg Volume so it will help to Understand Current Volume In Better Way
let me know if you have any idea to do this, i will Definitely add that in the indicator.