AllTradeSignals

AllCryptoSignals Volume Pressure Gauge v1.0

Hello, fellow traders! I'm happy to announce the release of the first of my custom indicators: The AllCryptoSignals Volume Pressure Gauge.

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How the AllCryptoSignals Volume Pressure Gauge Works
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The VPG has two main features. The first is an area chart that uses a custom algorithm to detect buying, selling and volume pressure. In principle, for "long" trading, it's best to enter when buying activity is trending up. With the VPG , you'll always know when that's the case. You'll have much safer entry points for trades, whether you are trading on 1m, 1h or 1D periods.

The second feature is a confirmation alert that indicates when buying pressure is rapidly increasing. For conservative traders, this offers extra assurance that buyers are moving in. When used on short periods like 1m, this also helps risky traders to catch price pumps.

The VPG supports TradingView Alerts on both the main algorithm and the rapid increase confirmation signal. You can set these alerts to reflect your trading style and risk tolerance. Best of all, there is no repainting of any historical chart data.

In the LINKBTC chart above, you can see the VPG in action over an 8-hour span on 3 minute periods. Although the chart is technically "flat," the VPG signaled 4 safe entry points represented by vertical blue lines that resulted in a total gain of 20%.

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How To Use the AllCryptoSignals Volume Pressure Gauge
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Step 1: First, apply the VPG to your chart and period of choice. This indicator works with charts of any period, from 1 minute onwards. I recommend using regular candles.

Step 2: Next, click the "Format" gear to access the VPG settings. The first setting you will want to tweak is the "Periods for Moving Average Calculation" setting. Try adjusting this to see how it changes the area chart. Setting a lower number will provide faster signals, but increases the chance of false positives. Setting a higher number reduces the number of signals and with lower volume altcoin pairs, can lead to late entries.

NOTE: this indicator's algorithm does consider trade volume . If you trade with short periods like 1m with low-volume altcoins, you will want to adjust this setting.

Step 3: If you wish to use the Rapid Signal Rise Modifier, you can change this setting as well. The number reflects the distance that the indicator has moved over the past couple of periods. Again, you will need to adjust this to reflect your risk tolerance, trading pairs and periods. This signal appears as a magenta-colored cross at the top of the indicator area.

For example: if you set this to "50", then you would receive a signal if the area chart recently moved from -40 to 10, or -30 to 20, or -14 to 61. NOTE: the chart MUST cross from negative to positive for this signal to show up!

Step 4: Finally, you can set alerts to notify you when the time is right. Open the Alert settings for your chart. In "Condition," select the VPG . Here, you can customize the alerts to your liking for both the VP Gauge and the RSR Modifier.

For example: I suggest trying the VP Gauge on "Crossing Up" over the "Value" of 0. This is a relatively safe alert, especially on longer periods. If you wish to get earlier notice, try a "Crossing Up" "Value" of "-5".

IMPORTANT NOTE ABOUT ALERTS: I strongly recommend that you select "Once Per Bar Close" for your alert settings. Using "Only Once," "Once Per Bar," and "Once Per Minute" can potentially result in false positives as the VPG will be reading trade information in the current period.

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Try It for 24 Hours
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Access to the AllCryptoSignals Volume Pressure Gauge is limited to members of our community, and a monthly donation is required. However, I'm happy to share trial access for 24 hours if you're interested in playing around and sharing your feedback.

Simply send me a message here on TradingView, and I'll set you up. Looking forward to chatting with you!

AllCryptoSignals

Invite-only script

Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact AllTradeSignals for more information, or follow the author's instructions below.

TradingView does not suggest paying for a script and using it until you 100% trust its author and understand how the script works. In many cases you can find a good open-source alternative for free in our Public Library.

Want to use this script on a chart?

Warning: please read before requesting access.

Comments

May I have access for 24 hours to test this out? Thanks!
+1 Reply
@Hoffdaddy - done! Let me know what you think.
Reply
May I have access for 24 hours to test this out? Thanks!
Reply
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