PROTECTED SOURCE SCRIPT
Updated Volume Reversals and 4h MAs
This script is tailored to 15 minute charts.
It overlays volume reversals and some long term MAs to help set your bias - I like to consider the following factors when evaluating a trade:
Trends for entry:
* Long term trend direction to set bias: Purple line
* Medium term trend on the right side of bias: Orange on the right side of purple
* Distance of price from Purple line - prefer to cross orange in line with bias, but sometimes it's ok to be wrong side of Orange
Volume reversal signal - short term reversals in OBV:
* Arrows indicate 15 minute volumes increased while close reversed over three candles
Exits:
* Consider exiting when crossing short term trend - Blue line
It overlays volume reversals and some long term MAs to help set your bias - I like to consider the following factors when evaluating a trade:
Trends for entry:
* Long term trend direction to set bias: Purple line
* Medium term trend on the right side of bias: Orange on the right side of purple
* Distance of price from Purple line - prefer to cross orange in line with bias, but sometimes it's ok to be wrong side of Orange
Volume reversal signal - short term reversals in OBV:
* Arrows indicate 15 minute volumes increased while close reversed over three candles
Exits:
* Consider exiting when crossing short term trend - Blue line
Release Notes
In this version, we replace the SMA with volume weighted moving average.Volume is a critical market dimension that many traders ignore - price can be misleading when taken in isolation.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.