RVOL Relative Volume - IntradayHello All,
Relative Volume is one of the most important indicators and Traders should check it while trading/analyzing. it is used to identify whether the volume flows are increasing or decreasing. Relative volume measures current volume in relation to the “usual” volume for this time of the day. What is considered “usual"? For that, we have to use a historical baseline known as the average daily volume. That means how much volume a security does on a daily basis over a defined period. (This scripts runs on the time frames greater or equal 1 minute and less than 1 day)
The common definition for real-time relative volume is: Current volume for this time of day / Average volume for this time of day. It does not mean taking the volume (for example) from 10:30 am to 10:45 am and comparing it to what it does from 10:30 am to 10:45 am every day. What it truly means is to compare cumulative volumes. Therefore, this is the precise definition of real-time relative volume:
Current cumulative volume up to this time of day / Average cumulative volume up to this time of day
What should we understand while checking RVOL;
- Relative volume tell us if volume flows are increasing or decreasing
- A high relative volume tells us that there is increased trading activity in a security today
- Increased volume flows often accompany higher volatility i.e. a significant price move
Let see an example:
P.S. if you want to get more info about RVOL/Relative Volume then you can search it on the net. While developing the script this was used as reference, you can also check it for more info.
Enjoy!
M-oscillator
Fear and Greed Index CandlesticksThis colours the candlesticks based on my 'Fear and Greed Index'.
All calculations are explained in the code.
The index is mainly based upon the components of the popular fear and greed index website. I've annotated the components in the code for you to look at.
If you're interested, you can replace the final variable 'Total' (within the 'barcolor' function at the very end) with any of the final outputs of the subcomponents to see the results of that single part.
Red = Greed
Green = Fear
Enjoy!
Fear and Greed IndexI couldn't find one based on the original, so I made my own, it's not quite identical, but it does the job.
Red = greed
Green = fear
I updated a lot of the subcomponents and fixed a bug. I've reduced the smoothing to 1, it was previously 5 if you prefer smoother signals. Also added a McClellan oscillator.
I've commented out the plotting of individual sub-components, just uncomment them to see what they do. Some look like pretty useful indicators on their own.
Enjoy!
Cyclic RSI High Low With Noise Filter█ OVERVIEW
This indicator displays Cyclic Relative Strength Index based on Decoding the Hidden Market Rhythm, Part 1 written by Lars von Thienen.
To determine true or false for Overbought / Oversold are unnecessary, therefore these should be either strong or weak.
Noise for weak Overbought / Oversold can be filtered, especially for smaller timeframe.
█ FEATURES
Display calculated Cyclic Relative Strength Index.
Zigzag high low based on Cyclic Relative Strength Index.
Able to filter noise for high low.
█ LEGENDS
◍ Weak Overbought / Oversold
OB ▼ = Strong Overbought
OS ▲ = Strong Oversold
█ USAGE / TIPS
Recommend to be used for Harmonic Patterns such as XABCD and ABCD.
Condition 1 (XABCD) : When ▼ and ▲ exist side by side, usually this outline XA, while the next two ◍ can be BC.
Condition 2 (ABCD) : When ▼ and ▲ exist side by side, usually this outline AB, while the next one ◍ can be BC, strong ABCD.
Condition 3 (ABCD) : When ▼ or ▲ exist at Point A, the next two ◍ can be Point B and Point C, medium ABCD.
Condition 4 (ABCD) : When ◍ exist at Point a, the next two ◍ can be Point b and Point c, weak ABCD usually used as lower case as abcd.
█ CREDITS
LoneSomeTheBlue
WhenToTrade
ROC vs BTCThis is a modification of my Rate of Change Percentile script, used to compare the current ticker (e.g. Altcoins) to BTC.
Essentially we are looking at (Current Ticker ROC percentile) vs (Bitcoin ROC percentile).
In other words, we are using the ROC value of both the current ticker and BTC, and ranking each based on their previous ROC.
We compare the rankings to gauge the relative overperformance or underperformance of the current ticker vs BTC.
The blue line is BTC, the columns are the current ticker.
Green columns above the blue line indicate positive ROC and current ticker has higher ROC ranking than BTC.
Red columns below the blue line indicate negative ROC and current ticker has a higher ROC ranking than BTC.
*** PLEASE LEAVE A LIKE AND FOLLOW IF YOU ENJOY THE SCRIPT ***
Any questions, comments or feedback I'd love to hear from you below!
Glassnode BTC SOPR ToolkitSOPR stand for Spent Output Profit Ratio. It’s a Bitcoin on-chain metric that shows whether Bitcoin spent outputs (UTXO’s) are being realized in profit or loss. It’s calculated by dividing realized value by the value at creation (price sold / price paid).
The SOPR metric traditionally uses a baseline of 1 instead of 0. For the purposes of the script, I've changed the baseline to 0.
SOPR signals > 0 show the overall market is transaction at a profit.
SOPR signals < 0 show the overall market is transacting at a loss.
SOPR servers as a great short/mid-term indicator.
SOPR Toolkit Features
- Smoothed SOPR
- SOPR Spikes
Smoothed SOPR
By default, ‘Smoothed SOPR’ is shown which applies a smoothing function to SOPR. This helps to visualize the broader SOPR trend.
Smoothed SOPR is calculated by taking the difference between positive and negative SOPR values.
SOPR is split into separate arrays based on if it's above or below the baseline A moving average is then applied to each array, then subtracted to get the difference.
You can also change whether or not a SMA, EMA, or Volume Weighted Simple/Exponential moving average is used. The VWMA is calculated using Glassnode’s BTC Total Transfer Volume metric.
SOPR Spikes
Shows relevant SOPR spikes.
SOPR spikes is calculated by applying a Bollinger Band to SOPR. Only values spike outside the bands are shown.
Adjust the StdDev to show more/less relevant spikes.
Enjoy :)
TFS Volume Oscillator Noise FilteredINTRODUCTION
This indicator is inspired from " HPotter’s TFS: Volume Oscillator " but I have used Heiken Ashi and Hull Moving Average in calculations in order to reduce noise for better trades.
The concept is similar to that of On-Balance Volume indicator (OBV). It is calculated according to these rules:
If Heiken Ashi Close > Heiken Ashi Open, Volume is positive
If Heiken Ashi Close < Heiken Ashi Open, Volume is negative
If Heiken Ashi Close = Heiken Ashi Open, Volume is neutral
BAR COLORS
Green Color:
Strong Uptrend with good volume supported momentum.
Faded Green Color:
Volume is relatively weakening.
Red Color:
Strong Downtrend with volume support.
Gray Color:
Downtrend negative volume is relatively weakening.
DEFAULTS SETTINGS
Volume length is 30 (Better for timeframes higher than 1H)
Hull Moving Average length is 14 but Linear Regression Curve can be selected with same length
Williams %R & RSI with Multiple PeriodsDESCRIPTION
1. Calculates %R and RSI with multiple period lengths.
1 period length value is defined by User.
8 period length values follow User's selection of classic number sequences, e.g. Fibonacci, Leonardo, Lucas, Narayana, etc.
2. User selects which indicator and periods to display or hide.
DEFAULTS
%R default custom period: 10.
RSI default custom period: 14.
%R & RSI default number sequence periods: Lucas numbers 11, 18, 29, 47, 76, 123, 199, 322.
CALCULATIONS
%R = (period high - most recent period's close price)/(period high - period low)
RSI = 100 - 1 / (100 + RS), where RS = SMMA(up, period) / SMMA(down, period)
PURPOSE
1. Identify price trends.
CREDITS
1. Williams %R technical analysis momentum oscillator by Larry Williams.
2. Wilder's Relative Strength Index technical analysis momentum oscillator by J. Welles Wilder.
3. "Solarized" color scheme by Ethan Schoonover.
+ %UMAIf you are familiar with the %B for use with Bollinger Bands, then you will understand this indicator immediately.
Designed for use with my +UMA moving average, this works in exactly the same way, with a few differences.
First off, as you can choose on which type of moving average the calculations are made, so too you will want to match this up with the one you are using. That of course goes for the standard deviation as well (just like you would with Bollinger Bands and %B). Here, because the +UMA uses highs and lows to create a sort of moving average channel, and then also to create the bands, I've opted to set the inner part of the bands as the extreme edge that the %UMA equates with the upper and lower lines.
I've added a moving average, donchian channels, and auto-plotted divergences as well, if you like. Typical color related stuff that I do. Alerts for everything.
Hope you like it!
The above image is comparing two of the same indicator, but based on different moving averages, and how it might plot divergences differently between the two.
ZigZag WavesHello All,
I am here with a new idea and script, " Zigzag Waves ". This indicator creates 3 Zigzags with different lengths, keeps the lengths of each zigzag wave and calculates/draws average waves for each zigzag. optionally it can reset the wave when zigzag direction changes and new highest/lowest found. And optionally it draws Exponential Moving Average(EMA) of the sum of waves. This idea is very new and at the moment there is no optimization for the Zigzag Periods. Maybe we altogether can improve the idea and find the best zigzag periods for different symbols and time frames.
Using the options You can play with the periods, add/remove EMA, set its color and reset the waves on new Highest/Lowest. As far as I see resetting the waves on new Highest/Lowest may bring better results.
if we enable "Reset the waves on new Highest/Lowest":
Using different periods and EMA length:
P.S. if you have ideas to improve this script, drop a comment under the script please.
Enjoy!
ROC PercentileRate Of Change Percentile calculates the current ROC (user defined length) as a percentile rank.
We use 2 separate arrays, one for all positive ROC values and one for all negative values within a defined lookback period. Then the current ROC value is compared to those arrays to find it's percentile ranking.
For example, a ranking of 75 means the ROC is in the 75th percentile of all POSITIVE ROC values over the lookback period.
A ranking of -80 is in the 80th percentile of all NEGATIVE ROC values over the lookback period.
Most ROC scripts use raw ROC values (or smoothed or otherwise altered), or have stochastic formula applied to them, I've not seen one that displays ROC as percentile ranking of previous positive/negative values.
What is the advantage?
Raw ROC data only gives half the picture. What we want to do is compare the ROC to previous ROC values, to give a sense of scale. Raw ROC values don't give you that context and you can only compare visually, usually limited to the number of bars you can see on your screen.
Using a percentile ranking gives us the context of current Rate of Change relative to the previous Rate of Change over a large lookback period, and not just visually but mathematically.
Why not using a long stochastic ROC? The problem with stochastics in general is that an outlier data point can ruin the data for the rest of the lookback period.
For example, imagine a huge outlier 8% ROC. The 2nd largest ROC is 4% and the 3rd largest is 2%, with all other values below this.
In this example, a stochastic ROC would display the 8% outlier as 100, the 4% as 50, the 2% as 25 and all other data would be squeezed down between 0-25.
Additionally, a value of 60 may have vastly different meaning depending on whether the lookback period contains a large outlier or not.
With a percentile ranking, that 8% outlier would still have a value of 100. But the 4% and 2% would be 99 and 98 respectively (this assumes 100 data points in the series, in reality values will usually be decimals).
This effectively flattens the curve and gives a more consistent and dependable experience, allowing you to more accurately assess the relative importance of the current ROC.
The line of circles is set at the 50 and -50 values for quick comparison.
Values > 50 represent ROC greater than 50% of previous positive ROC values.
Values < -50 represent ROC greater than 50% of previous negative ROC values.
LankouMultiSpreadsV2 AllThis script is calculating the spread between a token and it's relative counterpart on the PERPETUAL FUTURES contract
It's focus on exchange / defi / Tokens / metaverse / storage
for exchange tokens
It uses future from FTX because Binance does not have PERP contractc for other exchanges
If it's red, the price on PERP is lower than SPOT
If it's green, the price on PERP is HIGHER than SPOT meaning people are bullish on this asset
Rolling CAGRCompound Annual Growth Rate
This indicator is the compound annual growth rate to be used on any ticker.
How to use
Add indicator to your chart
Specify a data source (default is the close for the selected ticker)
Specify how many trading days are in a year (252 for stocks & 365 for crypto)
Restrictions
This is only accurate on the daily timeframe. So to avoid confusion, I disabled the plotting of the CAGR on any timeframe other than daily
BTC Puell Multiple with alert functionThe Puell Multiple examines the fundamentals of mining profitability and the way they shape market cycles. It is calculated by taking a ratio of daily coin issuance (in USD) and the 365 moving average of daily coin issuance (in USD).
Interpretation of the Puell Multiple can generally be considered in the following framework:
high values indicate that current miner profitability if high compared to the yearly average. As such, the incentive for miners to liquidate their treasuries is high and greater sell pressure may be expected.
Low values indicate that current miner profitability is low compared to the yearly average. As such, income stress may become a factor, and some miners may need to start reducing hash-power by switching off rigs. This increases the hash-share of remaining miners who can then sell fewer coins to cover their operations, reducing their impact on liquid supply.
Halving events will drop the current coin issuance by 50% relative to the preceding year creating an immediate halving of the Puell Multiple also. The effect on miner profitability will thus be as per the point on low values above.
StableF-AdxThe script is ADX-DMI modified verison
-Adx is labeled as Weak trend Below 25 and strong Trend above 25
-Hline is drawn at 25 for better clarification of crossover above 25
-Wait for crossover in +dmi and -dmi and to cross above 25 for any trend clarifcation
-crossover i.e upside cross of +dmi over -dmi is shown buy UP shape
-crossunder i.e downside cross of +dmi over -dmi is Shown buy DN shape
--disclaimer --This is just modified version of Bulit in ADX_DMI indicatior \ NOT advised for buy / Sell purpose
OJLJ Elliott Waves detector (Free)This script is made to identify Elliot Waves by setting a zigzag line as principal source, it identifies patterns with the most common rules, in the chart you will see a number in each wave detected, a wave could have the characteristics to be two different waves so it will be plotted the options that could be, To identify which one is most trustable I suggest to use the Fibonacci levels options as an additional note this is a free update to my existing script.
Features:
+ All waves ? (Option to show just the 5 Wave patterns recognition)
+ Draw zigzag line (Option to show the zigzag line)
+ Supports Multiple instruments, from FOREX to Stocks
+ It works on all the timeframes
+ Show Fib levels (Option to show the Fibonacci levels)
+ Fibonacci levels fit test (Green crosses mark were should a Bull wave be to fit with a Fibonacci Level While the purple crosses show were should the wave fit to be a bear trend, the more closer with the point of the wave the most trustable Example, a 5 Wave Bull could also be a 2 Bear Wave, if the green cross is closer to the orange point of the wave then is a 5 Wave Bull, if the purple cross is closer to the orange point)
+ A background color also show when a 5 pattern is identified
+ The way to plot the zigzag can be changed with 3 Input options
Characteristics to add in future updates (Please if you like it you can support me with coins):
+ Detect more than 1 cycle at the same time
+ Use a volume indicator to identify how many volume was traded in each wave
+ Implement the use of the EWO ( Elliot Wave Oscillator)
+ Improve the display
+ Identify ABC patterns
+ Add triangles and Zigzag formations
Stochastic and RSI in one indicator with customized alert.Hello Trading Viewers,
I present you Stochastic Oscillator and The Relative Strength Index Indicator inside one indicator, so that it will clear room to view charts.
When Stochastic is over-sold, the fast and slow stochastic underlap along with strong RSI (say above 45) will be a good indicator of buy at low with good risk-to-return of 2x or 3x; therefore I have set a triangle shape indicator within to help you identify or you can simply set an alert as I have coded an customized alert.
Same idea is used when Stochastic is over-bought you will receive an alert when fast & slow stochastic overlaps with RSI falling give a good sell set-up.
There is an option of selecting different timeframes which will further help make the correct decision. Say you are viewing a Daily chart but you want an indicator to present data of 4hrs timeframe, it can be done from the indicator cogwheel option. Default timeframe is "same as charts' ".
Above indicator is universal because settings such as RSI levels and no. of bars to calculate are user defined. You can use it on Crypto, Commodities, Stocks etc.
I suggest you first paper-trade with it and then use it on live account.
Happy trading.
Nav Premium/DiscountCalculates the Nav Premium/Discount for an asset given it's underlying value. I use it with ETHE/ETHUSD and GBTC/BTCUSD
Bybit perp discount vs Coinbase BTCThis indicator shows the discount Bybit BTC perp is trading at relative to Coinbase.
Choppiness Index TileA simple tile on the chart that indicates the choppiness index on the chart for the chart's timeframe. The index tile will show 3 different colors based on the value of the choppiness index. 61.8 for the high threshold and 38.2 for the lower threshold.
Oscillator SpectrogramA spectrogram of simple oscillators over varying periods.
Oscillator periods increase from bottom to top.
Color indicates the value of the oscillator, with fuchsia indicating a negative value, black indicating a value around 0, and lime green indicating a value greater than 0.
The oscillators are simply the percentage of positive movement within a lookback period, with 50 percent centered at 0.
Vertical lines along the spectrogram indicate that multiple oscillators of different periods are changing values, indicating a shift in market character.
F&G_IndexIntroduction.
This indicator shows the behavior of Fear and Greed Index (F&G_Index) for the cryptocurrency market in an intuitive way for traders. This indicator has been modified from a script developed by @cptpat called "Fear and Greed Index FGI (Daily Update) alternative.me" (Tradingview user). The Fear and Greed Index values are taken directly from alternative.me.
The novelty of this proposal is to indicate the extreme levels (lower/upper) of the Fear and Greed Index according to a statistical analysis of the historical data. Also its daily update. It is not recommended to use in isolation. The appropriate way is in consensus with other indicators.
The extreme values.
Two upper and lower limits are established that correspond to the first standard deviation (1·SD) and 1.5 standard deviation (1.5·SD), respectively. These limits will help to know different important levels of greed or fear in the market based on real and historical data. The values obtained for each case are shown below, which will mark the extremes. These values may be modified in the future. If so, they will be updated and the community will be informed.
1·SD higher = 69 (F&G_Index).
1·SD lower = 24 (F&G_Index).
1.5·SD higher = 81 (F&G_Index).
1.5·SD lower = 12 (F&G_Index).
These limits are statistically significant and representative of extreme values of the Fear and Greed Index. Above all, for the case of 1.5·SD higher/lower, whose occurrence of the cases are significantly lower. These data are obtained for a daily record from August 2017 to December 2021, for a total of 1407 data. The occurrence of the Fear and Greed Index value exceeding the indicated levels is shown below.
F&G_Index > 1·SD higher (Greed). Occurrence <22,5%
F&G_Index < 1·SD lower (Fear). Occurrence <19%
1·SD lower < F&G_Index < 1·SD higher (Neutral). Occurrence ≈59%
F&G_Index > 1.5·SD higher (Extreme Greed). Occurrence <8%
F&G_Index < 1.5·SD lower (Extreme Fear). Occurrence <3%
How to use the indicator.
Its use is very simple and intuitive and is based on the levels indicated above. The blue line shows the historical value of F&G_Index. When the value of F&G_Index exceeds the levels indicated above, a vertical band of color will be tinted (brown/red, green/lime green or gray with transparency) as indicated below. This allows you to locate important areas in a very visual way.
F&G_Index > 1·SD higher (Greed). Brown color
F&G_Index < 1·SD lower (Fear). Green color.
1·SD lower < F&G_Index < 1·SD higher (Neutral). Gray color with transparency.
F&G_Index > 1.5·SD higher (Extreme Greed). Red color.
F&G_Index < 1.5·SD lower (Extreme Fear). Lime green color.
Image of the indicator.
[JL] Cross CandlesI made Stoch candle yesterday, and want to compare other indicators.
So I code this one including 8 indicators on this version:
Stochastic Cross K and D
RSI Cross RSI and an average RSI
Moving Average Cross short and long
MACD Cross MACD and Signal
Stochastic RSI Cross K and D
DMI Cross Plus and minus
Parabolic SAR Cross close and sar
Super Trend Cross direction and 0
I personally like Stochastic, RSI and Stochastic RSI as they are less lagged.
Feel free to post suggestions about other indicators. I am happy to update it.
