It differentiates from existing TV indicators in its style and total feature set (most notably PVSRA and PVSRA Override,
auto daylight savings market adjustments as well as a next market open countdown feature)
It was originally designed for forex markets, and it will work for crypto as well, but it has not been tested on stocks.
List of features:
Market boxes (NY/UK/Asia and UK/NY Brinks Boxes)
5/13/50/200/800 EMAs (cloud for 50EMA)
Pivot points (S/M/R 1,2,3; PP )
Yesterday and Last Week price range
Average Daily Range
Range Daily High and Low
Range Weekly High and Low
Psychological High/Low now with auto adjust for the psy type (forex or crypto)
Vector Candle Zones
All of these are configurable in the indicator settings.
PVSRA Candle colors meaning:
Green (bull) and red (bear): Candles with volume >= 200% of the average volume of the 10 previous chart candles, and candles where the product of candle spread x candle volume is >= the highest for the 10 previous chart time candles.
Blue (bull) and blue-violet (bear): Candles with volume >= 150% of the average volume of the 10 previous chart candles
In order to get reliable bar coloring, we need accurate data. If you're on a chart with low volume on some obscure exchange, you may want to use another exchanges datafeed for the symbol you are on to calculate the PVSRA bar colors with. This lets you do exactly that. By default it's off, but you can turn it on and use INDEX:BTCUSD, or really any other chart you want. You can combine charts too, e.g. use BINANCE:BTCUSDT+COINBASE:BTCUSD.
Alerts can be made for PVSRA "vector"/"climax" candles, Price action crossing ADR, Psy values and Daily open:
1. Create Alert (Clock with + sign)
2. Set Condition: "Traders Reality",
3. Select appropriate alert from the options available,
4. Set it to Once per Bar,
5. Choose your notification options.
Market boxes for Asia (combined Sydney Tokyo and Hong Kong), Uk and NY Sessions - will auto adjust to daylight savings time and do not require any additional setup. They are also independent of x-axis timezone used on your chart.
Market boxes expand the high/low of the session, print in the future to the session close time
Since Asia session is effectively a combination of Sydney, Tokyo and Hong Kong sessions all in one - a countdown table to the next individual session open is displayed for each individual session
Configurable for Crypto or Forex with auto detect or manually - draws the perceived Psychological High/Low ranges for the week. Can display historical values too.
Vector Candle Zones
displays unrecovered liquidity left behind on unrecovered vectors. Configurable to take into account candle bodies or candles and wicks.
Recommended additional Tradingview indicator(s):
- TDI - Goldminds, Edited for Market Makers Method by Jakub Donovan
The code was originally by plasmapug, continued development (with permission) is now done by infernix and peshocore and xtech5192 in collaboration with TradersReality.
If you have suggestions or questions, you can message me or leave a comment.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.