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ATAI Volume analysis with price action V 1.00ATAI Volume Analysis with Price Action 1. Introduction 1.1 Overview ATAI Volume Analysis with Price Action is a composite indicator designed for TradingView. It combines per‑side volume data —that is, how much buying and selling occurs during each bar—with standard price‑structure elements such as swings, trend lines and support/resistance. By blending these elements the script aims to help a trader understand which side is in control, whether a breakout is genuine, when markets are potentially exhausted and where liquidity providers might be active. The indicator is built around TradingView’s up/down volume feed accessed via the TradingView/ta/10 library. The following excerpt from the script illustrates how this feed is configured: import TradingView/ta/10 as tvta // Determine lower timeframe string based on user choice and chart resolution string lower_tf_breakout = use_custom_tf_input ? custom_tf_input : timeframe.isseconds ? "1S" : timeframe.isintraday ? "1" : timeframe.isdaily ? "5" : "60" // Request up/down volume (both positive) = tvta.requestUpAndDownVolume(lower_tf_breakout) Lower‑timeframe selection. If you do not specify a custom lower timeframe, the script chooses a default based on your chart resolution: 1 second for second charts, 1 minute for intraday charts, 5 minutes for daily charts and 60 minutes for anything longer. Smaller intervals provide a more precise view of buyer and seller flow but cover fewer bars. Larger intervals cover more history at the cost of granularity. Tick vs. time bars. Many trading platforms offer a tick / intrabar calculation mode that updates an indicator on every trade rather than only on bar close. Turning on one‑tick calculation will give the most accurate split between buy and sell volume on the current bar, but it typically reduces the amount of historical data available. For the highest fidelity in live trading you can enable this mode; for studying longer histories you might prefer to disable it. When volume data is completely unavailable (some instruments and crypto pairs), all modules that rely on it will remain silent and only the price‑structure backbone will operate. Figure caption, Each panel shows the indicator’s info table for a different volume sampling interval. In the left chart, the parentheses “(5)” beside the buy‑volume figure denote that the script is aggregating volume over five‑minute bars; the center chart uses “(1)” for one‑minute bars; and the right chart uses “(1T)” for a one‑tick interval. These notations tell you which lower timeframe is driving the volume calculations. Shorter intervals such as 1 minute or 1 tick provide finer detail on buyer and seller flow, but they cover fewer bars; longer intervals like five‑minute bars smooth the data and give more history. Figure caption, The values in parentheses inside the info table come directly from the Breakout — Settings. The first row shows the custom lower-timeframe used for volume calculations (e.g., “(1)”, “(5)”, or “(1T)”) 2. Price‑Structure Backbone Even without volume, the indicator draws structural features that underpin all other modules. These features are always on and serve as the reference levels for subsequent calculations. 2.1 What it draws • Pivots: Swing highs and lows are detected using the pivot_left_input and pivot_right_input settings. A pivot high is identified when the high recorded pivot_right_input bars ago exceeds the highs of the preceding pivot_left_input bars and is also higher than (or equal to) the highs of the subsequent pivot_right_input bars; pivot lows follow the inverse logic. The indicator retains only a fixed number of such pivot points per side, as defined by point_count_input, discarding the oldest ones when the limit is exceeded. • Trend lines: For each side, the indicator connects the earliest stored pivot and the most recent pivot (oldest high to newest high, and oldest low to newest low). When a new pivot is added or an old one drops out of the lookback window, the line’s endpoints—and therefore its slope—are recalculated accordingly. • Horizontal support/resistance: The highest high and lowest low within the lookback window defined by length_input are plotted as horizontal dashed lines. These serve as short‑term support and resistance levels. • Ranked labels: If showPivotLabels is enabled the indicator prints labels such as “HH1”, “HH2”, “LL1” and “LL2” near each pivot. The ranking is determined by comparing the price of each stored pivot: HH1 is the highest high, HH2 is the second highest, and so on; LL1 is the lowest low, LL2 is the second lowest. In the case of equal prices the newer pivot gets the better rank. Labels are offset from price using ½ × ATR × label_atr_multiplier, with the ATR length defined by label_atr_len_input. A dotted connector links each label to the candle’s wick. 2.2 Key settings • length_input: Window length for finding the highest and lowest values and for determining trend line endpoints. A larger value considers more history and will generate longer trend lines and S/R levels. • pivot_left_input, pivot_right_input: Strictness of swing confirmation. Higher values require more bars on either side to form a pivot; lower values create more pivots but may include minor swings. • point_count_input: How many pivots are kept in memory on each side. When new pivots exceed this number the oldest ones are discarded. • label_atr_len_input and label_atr_multiplier: Determine how far pivot labels are offset from the bar using ATR. Increasing the multiplier moves labels further away from price. • Styling inputs for trend lines, horizontal lines and labels (color, width and line style). Figure caption, The chart illustrates how the indicator’s price‑structure backbone operates. In this daily example, the script scans for bars where the high (or low) pivot_right_input bars back is higher (or lower) than the preceding pivot_left_input bars and higher or lower than the subsequent pivot_right_input bars; only those bars are marked as pivots. These pivot points are stored and ranked: the highest high is labelled “HH1”, the second‑highest “HH2”, and so on, while lows are marked “LL1”, “LL2”, etc. Each label is offset from the price by half of an ATR‑based distance to keep the chart clear, and a dotted connector links the label to the actual candle. The red diagonal line connects the earliest and latest stored high pivots, and the green line does the same for low pivots; when a new pivot is added or an old one drops out of the lookback window, the end‑points and slopes adjust accordingly. Dashed horizontal lines mark the highest high and lowest low within the current lookback window, providing visual support and resistance levels. Together, these elements form the structural backbone that other modules reference, even when volume data is unavailable. 3. Breakout Module 3.1 Concept This module confirms that a price break beyond a recent high or low is supported by a genuine shift in buying or selling pressure. It requires price to clear the highest high (“HH1”) or lowest low (“LL1”) and, simultaneously, that the winning side shows a significant volume spike, dominance and ranking. Only when all volume and price conditions pass is a breakout labelled. 3.2 Inputs • lookback_break_input : This controls the number of bars used to compute moving averages and percentiles for volume. A larger value smooths the averages and percentiles but makes the indicator respond more slowly. • vol_mult_input : The “spike” multiplier; the current buy or sell volume must be at least this multiple of its moving average over the lookback window to qualify as a breakout. • rank_threshold_input (0–100) : Defines a volume percentile cutoff: the current buyer/seller volume must be in the top (100−threshold)%(100−threshold)% of all volumes within the lookback window. For example, if set to 80, the current volume must be in the top 20 % of the lookback distribution. • ratio_threshold_input (0–1) : Specifies the minimum share of total volume that the buyer (for a bullish breakout) or seller (for bearish) must hold on the current bar; the code also requires that the cumulative buyer volume over the lookback window exceeds the seller volume (and vice versa for bearish cases). • use_custom_tf_input / custom_tf_input : When enabled, these inputs override the automatic choice of lower timeframe for up/down volume; otherwise the script selects a sensible default based on the chart’s timeframe. • Label appearance settings : Separate options control the ATR-based offset length, offset multiplier, label size and colors for bullish and bearish breakout labels, as well as the connector style and width. 3.3 Detection logic 1. Data preparation : Retrieve per‑side volume from the lower timeframe and take absolute values. Build rolling arrays of the last lookback_break_input values to compute simple moving averages (SMAs), cumulative sums and percentile ranks for buy and sell volume. 2. Volume spike: A spike is flagged when the current buy (or, in the bearish case, sell) volume is at least vol_mult_input times its SMA over the lookback window. 3. Dominance test: The buyer’s (or seller’s) share of total volume on the current bar must meet or exceed ratio_threshold_input. In addition, the cumulative sum of buyer volume over the window must exceed the cumulative sum of seller volume for a bullish breakout (and vice versa for bearish). A separate requirement checks the sign of delta: for bullish breakouts delta_breakout must be non‑negative; for bearish breakouts it must be non‑positive. 4. Percentile rank: The current volume must fall within the top (100 – rank_threshold_input) percent of the lookback distribution—ensuring that the spike is unusually large relative to recent history. 5. Price test: For a bullish signal, the closing price must close above the highest pivot (HH1); for a bearish signal, the close must be below the lowest pivot (LL1). 6. Labeling: When all conditions above are satisfied, the indicator prints “Breakout ↑” above the bar (bullish) or “Breakout ↓” below the bar (bearish). Labels are offset using half of an ATR‑based distance and linked to the candle with a dotted connector. Figure caption, (Breakout ↑ example) , On this daily chart, price pushes above the red trendline and the highest prior pivot (HH1). The indicator recognizes this as a valid breakout because the buyer‑side volume on the lower timeframe spikes above its recent moving average and buyers dominate the volume statistics over the lookback period; when combined with a close above HH1, this satisfies the breakout conditions. The “Breakout ↑” label appears above the candle, and the info table highlights that up‑volume is elevated relative to its 11‑bar average, buyer share exceeds the dominance threshold and money‑flow metrics support the move. Figure caption, In this daily example, price breaks below the lowest pivot (LL1) and the lower green trendline. The indicator identifies this as a bearish breakout because sell‑side volume is sharply elevated—about twice its 11‑bar average—and sellers dominate both the bar and the lookback window. With the close falling below LL1, the script triggers a Breakout ↓ label and marks the corresponding row in the info table, which shows strong down volume, negative delta and a seller share comfortably above the dominance threshold. 4. Market Phase Module (Volume Only) 4.1 Concept Not all markets trend; many cycle between periods of accumulation (buying pressure building up), distribution (selling pressure dominating) and neutral behavior. This module classifies the current bar into one of these phases without using ATR , relying solely on buyer and seller volume statistics. It looks at net flows, ratio changes and an OBV‑like cumulative line with dual‑reference (1‑ and 2‑bar) trends. The result is displayed both as on‑chart labels and in a dedicated row of the info table. 4.2 Inputs • phase_period_len: Number of bars over which to compute sums and ratios for phase detection. • phase_ratio_thresh : Minimum buyer share (for accumulation) or minimum seller share (for distribution, derived as 1 − phase_ratio_thresh) of the total volume. • strict_mode: When enabled, both the 1‑bar and 2‑bar changes in each statistic must agree on the direction (strict confirmation); when disabled, only one of the two references needs to agree (looser confirmation). • Color customisation for info table cells and label styling for accumulation and distribution phases, including ATR length, multiplier, label size, colors and connector styles. • show_phase_module: Toggles the entire phase detection subsystem. • show_phase_labels: Controls whether on‑chart labels are drawn when accumulation or distribution is detected. 4.3 Detection logic The module computes three families of statistics over the volume window defined by phase_period_len: 1. Net sum (buyers minus sellers): net_sum_phase = Σ(buy) − Σ(sell). A positive value indicates a predominance of buyers. The code also computes the differences between the current value and the values 1 and 2 bars ago (d_net_1, d_net_2) to derive up/down trends. 2. Buyer ratio: The instantaneous ratio TF_buy_breakout / TF_tot_breakout and the window ratio Σ(buy) / Σ(total). The current ratio must exceed phase_ratio_thresh for accumulation or fall below 1 − phase_ratio_thresh for distribution. The first and second differences of the window ratio (d_ratio_1, d_ratio_2) determine trend direction. 3. OBV‑like cumulative net flow: An on‑balance volume analogue obv_net_phase increments by TF_buy_breakout − TF_sell_breakout each bar. Its differences over the last 1 and 2 bars (d_obv_1, d_obv_2) provide trend clues. The algorithm then combines these signals: • For strict mode , accumulation requires: (a) current ratio ≥ threshold, (b) cumulative ratio ≥ threshold, (c) both ratio differences ≥ 0, (d) net sum differences ≥ 0, and (e) OBV differences ≥ 0. Distribution is the mirror case. • For loose mode , it relaxes the directional tests: either the 1‑ or the 2‑bar difference needs to agree in each category. If all conditions for accumulation are satisfied, the phase is labelled “Accumulation” ; if all conditions for distribution are satisfied, it’s labelled “Distribution” ; otherwise the phase is “Neutral” . 4.4 Outputs • Info table row : Row 8 displays “Market Phase (Vol)” on the left and the detected phase (Accumulation, Distribution or Neutral) on the right. The text colour of both cells matches a user‑selectable palette (typically green for accumulation, red for distribution and grey for neutral). • On‑chart labels : When show_phase_labels is enabled and a phase persists for at least one bar, the module prints a label above the bar ( “Accum” ) or below the bar ( “Dist” ) with a dashed or dotted connector. The label is offset using ATR based on phase_label_atr_len_input and phase_label_multiplier and is styled according to user preferences. Figure caption, The chart displays a red “Dist” label above a particular bar, indicating that the accumulation/distribution module identified a distribution phase at that point. The detection is based on seller dominance: during that bar, the net buyer-minus-seller flow and the OBV‑style cumulative flow were trending down, and the buyer ratio had dropped below the preset threshold. These conditions satisfy the distribution criteria in strict mode. The label is placed above the bar using an ATR‑based offset and a dashed connector. By the time of the current bar in the screenshot, the phase indicator shows “Neutral” in the info table—signaling that neither accumulation nor distribution conditions are currently met—yet the historical “Dist” label remains to mark where the prior distribution phase began. Figure caption, In this example the market phase module has signaled an Accumulation phase. Three bars before the current candle, the algorithm detected a shift toward buyers: up‑volume exceeded its moving average, down‑volume was below average, and the buyer share of total volume climbed above the threshold while the on‑balance net flow and cumulative ratios were trending upwards. The blue “Accum” label anchored below that bar marks the start of the phase; it remains on the chart because successive bars continue to satisfy the accumulation conditions. The info table confirms this: the “Market Phase (Vol)” row still reads Accumulation, and the ratio and sum rows show buyers dominating both on the current bar and across the lookback window. 5. OB/OS Spike Module 5.1 What overbought/oversold means here In many markets, a rapid extension up or down is often followed by a period of consolidation or reversal. The indicator interprets overbought (OB) conditions as abnormally strong selling risk at or after a price rally and oversold (OS) conditions as unusually strong buying risk after a decline. Importantly, these are not direct trade signals; rather they flag areas where caution or contrarian setups may be appropriate. 5.2 Inputs • minHits_obos (1–7): Minimum number of oscillators that must agree on an overbought or oversold condition for a label to print. • syncWin_obos: Length of a small sliding window over which oscillator votes are smoothed by taking the maximum count observed. This helps filter out choppy signals. • Volume spike criteria: kVolRatio_obos (ratio of current volume to its SMA) and zVolThr_obos (Z‑score threshold) across volLen_obos. Either threshold can trigger a spike. • Oscillator toggles and periods: Each of RSI, Stochastic (K and D), Williams %R, CCI, MFI, DeMarker and Stochastic RSI can be independently enabled; their periods are adjustable. • Label appearance: ATR‑based offset, size, colors for OB and OS labels, plus connector style and width. 5.3 Detection logic 1. Directional volume spikes: Volume spikes are computed separately for buyer and seller volumes. A sell volume spike (sellVolSpike) flags a potential OverBought bar, while a buy volume spike (buyVolSpike) flags a potential OverSold bar. A spike occurs when the respective volume exceeds kVolRatio_obos times its simple moving average over the window or when its Z‑score exceeds zVolThr_obos. 2. Oscillator votes: For each enabled oscillator, calculate its overbought and oversold state using standard thresholds (e.g., RSI ≥ 70 for OB and ≤ 30 for OS; Stochastic %K/%D ≥ 80 for OB and ≤ 20 for OS; etc.). Count how many oscillators vote for OB and how many vote for OS. 3. Minimum hits: Apply the smoothing window syncWin_obos to the vote counts using a maximum‑of‑last‑N approach. A candidate bar is only considered if the smoothed OB hit count ≥ minHits_obos (for OverBought) or the smoothed OS hit count ≥ minHits_obos (for OverSold). 4. Tie‑breaking: If both OverBought and OverSold spike conditions are present on the same bar, compare the smoothed hit counts: the side with the higher count is selected; ties default to OverBought. 5. Label printing: When conditions are met, the bar is labelled as “OverBought X/7” above the candle or “OverSold X/7” below it. “X” is the number of oscillators confirming, and the bracket lists the abbreviations of contributing oscillators. Labels are offset from price using half of an ATR‑scaled distance and can optionally include a dotted or dashed connector line. Figure caption, In this chart the overbought/oversold module has flagged an OverSold signal. A sell‑off from the prior highs brought price down to the lower trend‑line, where the bar marked “OverSold 3/7 DeM” appears. This label indicates that on that bar the module detected a buy‑side volume spike and that at least three of the seven enabled oscillators—in this case including the DeMarker—were in oversold territory. The label is printed below the candle with a dotted connector, signaling that the market may be temporarily exhausted on the downside. After this oversold print, price begins to rebound towards the upper red trend‑line and higher pivot levels. Figure caption, This example shows the overbought/oversold module in action. In the left‑hand panel you can see the OB/OS settings where each oscillator (RSI, Stochastic, Williams %R, CCI, MFI, DeMarker and Stochastic RSI) can be enabled or disabled, and the ATR length and label offset multiplier adjusted. On the chart itself, price has pushed up to the descending red trendline and triggered an “OverBought 3/7” label. That means the sell‑side volume spiked relative to its average and three out of the seven enabled oscillators were in overbought territory. The label is offset above the candle by half of an ATR and connected with a dashed line, signaling that upside momentum may be overextended and a pause or pullback could follow. 6. Buyer/Seller Trap Module 6.1 Concept A bull trap occurs when price appears to break above resistance, attracting buyers, but fails to sustain the move and quickly reverses, leaving a long upper wick and trapping late entrants. A bear trap is the opposite: price breaks below support, lures in sellers, then snaps back, leaving a long lower wick and trapping shorts. This module detects such traps by looking for price structure sweeps, order‑flow mismatches and dominance reversals. It uses a scoring system to differentiate risk from confirmed traps. 6.2 Inputs • trap_lookback_len: Window length used to rank extremes and detect sweeps. • trap_wick_threshold: Minimum proportion of a bar’s range that must be wick (upper for bull traps, lower for bear traps) to qualify as a sweep. • trap_score_risk: Minimum aggregated score required to flag a trap risk. (The code defines a trap_score_confirm input, but confirmation is actually based on price reversal rather than a separate score threshold.) • trap_confirm_bars: Maximum number of bars allowed for price to reverse and confirm the trap. If price does not reverse in this window, the risk label will expire or remain unconfirmed. • Label settings: ATR length and multiplier for offsetting, size, colours for risk and confirmed labels, and connector style and width. Separate settings exist for bull and bear traps. • Toggle inputs: show_trap_module and show_trap_labels enable the module and control whether labels are drawn on the chart. 6.3 Scoring logic The module assigns points to several conditions and sums them to determine whether a trap risk is present. For bull traps, the score is built from the following (bear traps mirror the logic with highs and lows swapped): 1. Sweep (2 points): Price trades above the high pivot (HH1) but fails to close above it and leaves a long upper wick at least trap_wick_threshold × range. For bear traps, price dips below the low pivot (LL1), fails to close below and leaves a long lower wick. 2. Close break (1 point): Price closes beyond HH1 or LL1 without leaving a long wick. 3. Candle/delta mismatch (2 points): The candle closes bullish yet the order flow delta is negative or the seller ratio exceeds 50%, indicating hidden supply. Conversely, a bearish close with positive delta or buyer dominance suggests hidden demand. 4. Dominance inversion (2 points): The current bar’s buyer volume has the highest rank in the lookback window while cumulative sums favor sellers, or vice versa. 5. Low‑volume break (1 point): Price crosses the pivot but total volume is below its moving average. The total score for each side is compared to trap_score_risk. If the score is high enough, a “Bull Trap Risk” or “Bear Trap Risk” label is drawn, offset from the candle by half of an ATR‑scaled distance using a dashed outline. If, within trap_confirm_bars, price reverses beyond the opposite level—drops back below the high pivot for bull traps or rises above the low pivot for bear traps—the label is upgraded to a solid “Bull Trap” or “Bear Trap” . In this version of the code, there is no separate score threshold for confirmation: the variable trap_score_confirm is unused; confirmation depends solely on a successful price reversal within the specified number of bars. Figure caption, In this example the trap module has flagged a Bear Trap Risk. Price initially breaks below the most recent low pivot (LL1), but the bar closes back above that level and leaves a long lower wick, suggesting a failed push lower. Combined with a mismatch between the candle direction and the order flow (buyers regain control) and a reversal in volume dominance, the aggregate score exceeds the risk threshold, so a dashed “Bear Trap Risk” label prints beneath the bar. The green and red trend lines mark the current low and high pivot trajectories, while the horizontal dashed lines show the highest and lowest values in the lookback window. If, within the next few bars, price closes decisively above the support, the risk label would upgrade to a solid “Bear Trap” label. Figure caption, In this example the trap module has identified both ends of a price range. Near the highs, price briefly pushes above the descending red trendline and the recent pivot high, but fails to close there and leaves a noticeable upper wick. That combination of a sweep above resistance and order‑flow mismatch generates a Bull Trap Risk label with a dashed outline, warning that the upside break may not hold. At the opposite extreme, price later dips below the green trendline and the labelled low pivot, then quickly snaps back and closes higher. The long lower wick and subsequent price reversal upgrade the previous bear‑trap risk into a confirmed Bear Trap (solid label), indicating that sellers were caught on a false breakdown. Horizontal dashed lines mark the highest high and lowest low of the lookback window, while the red and green diagonals connect the earliest and latest pivot highs and lows to visualize the range. 7. Sharp Move Module 7.1 Concept Markets sometimes display absorption or climax behavior—periods when one side steadily gains the upper hand before price breaks out with a sharp move. This module evaluates several order‑flow and volume conditions to anticipate such moves. Users can choose how many conditions must be met to flag a risk and how many (plus a price break) are required for confirmation. 7.2 Inputs • sharp Lookback: Number of bars in the window used to compute moving averages, sums, percentile ranks and reference levels. • sharpPercentile: Minimum percentile rank for the current side’s volume; the current buy (or sell) volume must be greater than or equal to this percentile of historical volumes over the lookback window. • sharpVolMult: Multiplier used in the volume climax check. The current side’s volume must exceed this multiple of its average to count as a climax. • sharpRatioThr: Minimum dominance ratio (current side’s volume relative to the opposite side) used in both the instant and cumulative dominance checks. • sharpChurnThr: Maximum ratio of a bar’s range to its ATR for absorption/churn detection; lower values indicate more absorption (large volume in a small range). • sharpScoreRisk: Minimum number of conditions that must be true to print a risk label. • sharpScoreConfirm: Minimum number of conditions plus a price break required for confirmation. • sharpCvdThr: Threshold for cumulative delta divergence versus price change (positive for bullish accumulation, negative for bearish distribution). • Label settings: ATR length (sharpATRlen) and multiplier (sharpLabelMult) for positioning labels, label size, colors and connector styles for bullish and bearish sharp moves. • Toggles: enableSharp activates the module; show_sharp_labels controls whether labels are drawn. 7.3 Conditions (six per side) For each side, the indicator computes six boolean conditions and sums them to form a score: 1. Dominance (instant and cumulative): – Instant dominance: current buy volume ≥ sharpRatioThr × current sell volume. – Cumulative dominance: sum of buy volumes over the window ≥ sharpRatioThr × sum of sell volumes (and vice versa for bearish checks). 2. Accumulation/Distribution divergence: Over the lookback window, cumulative delta rises by at least sharpCvdThr while price fails to rise (bullish), or cumulative delta falls by at least sharpCvdThr while price fails to fall (bearish). 3. Volume climax: The current side’s volume is ≥ sharpVolMult × its average and the product of volume and bar range is the highest in the lookback window. 4. Absorption/Churn: The current side’s volume divided by the bar’s range equals the highest value in the window and the bar’s range divided by ATR ≤ sharpChurnThr (indicating large volume within a small range). 5. Percentile rank: The current side’s volume percentile rank is ≥ sharp Percentile. 6. Mirror logic for sellers: The above checks are repeated with buyer and seller roles swapped and the price break levels reversed. Each condition that passes contributes one point to the corresponding side’s score (0 or 1). Risk and confirmation thresholds are then applied to these scores. 7.4 Scoring and labels • Risk: If scoreBull ≥ sharpScoreRisk, a “Sharp ↑ Risk” label is drawn above the bar. If scoreBear ≥ sharpScoreRisk, a “Sharp ↓ Risk” label is drawn below the bar. • Confirmation: A risk label is upgraded to “Sharp ↑” when scoreBull ≥ sharpScoreConfirm and the bar closes above the highest recent pivot (HH1); for bearish cases, confirmation requires scoreBear ≥ sharpScoreConfirm and a close below the lowest pivot (LL1). • Label positioning: Labels are offset from the candle by ATR × sharpLabelMult (full ATR times multiplier), not half, and may include a dashed or dotted connector line if enabled. Figure caption, In this chart both bullish and bearish sharp‑move setups have been flagged. Earlier in the range, a “Sharp ↓ Risk” label appears beneath a candle: the sell‑side score met the risk threshold, signaling that the combination of strong sell volume, dominance and absorption within a narrow range suggested a potential sharp decline. The price did not close below the lower pivot, so this label remains a “risk” and no confirmation occurred. Later, as the market recovered and volume shifted back to the buy side, a “Sharp ↑ Risk” label prints above a candle near the top of the channel. Here, buy‑side dominance, cumulative delta divergence and a volume climax aligned, but price has not yet closed above the upper pivot (HH1), so the alert is still a risk rather than a confirmed sharp‑up move. Figure caption, In this chart a Sharp ↑ label is displayed above a candle, indicating that the sharp move module has confirmed a bullish breakout. Prior bars satisfied the risk threshold — showing buy‑side dominance, positive cumulative delta divergence, a volume climax and strong absorption in a narrow range — and this candle closes above the highest recent pivot, upgrading the earlier “Sharp ↑ Risk” alert to a full Sharp ↑ signal. The green label is offset from the candle with a dashed connector, while the red and green trend lines trace the high and low pivot trajectories and the dashed horizontals mark the highest and lowest values of the lookback window. 8. Market‑Maker / Spread‑Capture Module 8.1 Concept Liquidity providers often “capture the spread” by buying and selling in almost equal amounts within a very narrow price range. These bars can signal temporary congestion before a move or reflect algorithmic activity. This module flags bars where both buyer and seller volumes are high, the price range is only a few ticks and the buy/sell split remains close to 50%. It helps traders spot potential liquidity pockets. 8.2 Inputs • scalpLookback: Window length used to compute volume averages. • scalpVolMult: Multiplier applied to each side’s average volume; both buy and sell volumes must exceed this multiple. • scalpTickCount: Maximum allowed number of ticks in a bar’s range (calculated as (high − low) / minTick). A value of 1 or 2 captures ultra‑small bars; increasing it relaxes the range requirement. • scalpDeltaRatio: Maximum deviation from a perfect 50/50 split. For example, 0.05 means the buyer share must be between 45% and 55%. • Label settings: ATR length, multiplier, size, colors, connector style and width. • Toggles : show_scalp_module and show_scalp_labels to enable the module and its labels. 8.3 Signal When, on the current bar, both TF_buy_breakout and TF_sell_breakout exceed scalpVolMult times their respective averages and (high − low)/minTick ≤ scalpTickCount and the buyer share is within scalpDeltaRatio of 50%, the module prints a “Spread ↔” label above the bar. The label uses the same ATR offset logic as other modules and draws a connector if enabled. Figure caption, In this chart the spread‑capture module has identified a potential liquidity pocket. Buyer and seller volumes both spiked above their recent averages, yet the candle’s range measured only a couple of ticks and the buy/sell split stayed close to 50 %. This combination met the module’s criteria, so it printed a grey “Spread ↔” label above the bar. The red and green trend lines link the earliest and latest high and low pivots, and the dashed horizontals mark the highest high and lowest low within the current lookback window. 9. Money Flow Module 9.1 Concept To translate volume into a monetary measure, this module multiplies each side’s volume by the closing price. It tracks buying and selling system money default currency on a per-bar basis and sums them over a chosen period. The difference between buy and sell currencies (Δ$) shows net inflow or outflow. 9.2 Inputs • mf_period_len_mf: Number of bars used for summing buy and sell dollars. • Label appearance settings: ATR length, multiplier, size, colors for up/down labels, and connector style and width. • Toggles: Use enableMoneyFlowLabel_mf and showMFLabels to control whether the module and its labels are displayed. 9.3 Calculations • Per-bar money: Buy $ = TF_buy_breakout × close; Sell $ = TF_sell_breakout × close. Their difference is Δ$ = Buy $ − Sell $. • Summations: Over mf_period_len_mf bars, compute Σ Buy $, Σ Sell $ and ΣΔ$ using math.sum(). • Info table entries: Rows 9–13 display these values as texts like “↑ USD 1234 (1M)” or “ΣΔ USD −5678 (14)”, with colors reflecting whether buyers or sellers dominate. • Money flow status: If Δ$ is positive the bar is marked “Money flow in” ; if negative, “Money flow out” ; if zero, “Neutral”. The cumulative status is similarly derived from ΣΔ.Labels print at the bar that changes the sign of ΣΔ, offset using ATR × label multiplier and styled per user preferences. Figure caption, The chart illustrates a steady rise toward the highest recent pivot (HH1) with price riding between a rising green trend‑line and a red trend‑line drawn through earlier pivot highs. A green Money flow in label appears above the bar near the top of the channel, signaling that net dollar flow turned positive on this bar: buy‑side dollar volume exceeded sell‑side dollar volume, pushing the cumulative sum ΣΔ$ above zero. In the info table, the “Money flow (bar)” and “Money flow Σ” rows both read In, confirming that the indicator’s money‑flow module has detected an inflow at both bar and aggregate levels, while other modules (pivots, trend lines and support/resistance) remain active to provide structural context. In this example the Money Flow module signals a net outflow. Price has been trending downward: successive high pivots form a falling red trend‑line and the low pivots form a descending green support line. When the latest bar broke below the previous low pivot (LL1), both the bar‑level and cumulative net dollar flow turned negative—selling volume at the close exceeded buying volume and pushed the cumulative Δ$ below zero. The module reacts by printing a red “Money flow out” label beneath the candle; the info table confirms that the “Money flow (bar)” and “Money flow Σ” rows both show Out, indicating sustained dominance of sellers in this period. 10. Info Table 10.1 Purpose When enabled, the Info Table appears in the lower right of your chart. It summarises key values computed by the indicator—such as buy and sell volume, delta, total volume, breakout status, market phase, and money flow—so you can see at a glance which side is dominant and which signals are active. 10.2 Symbols • ↑ / ↓ — Up (↑) denotes buy volume or money; down (↓) denotes sell volume or money. • MA — Moving average. In the table it shows the average value of a series over the lookback period. • Σ (Sigma) — Cumulative sum over the chosen lookback period. • Δ (Delta) — Difference between buy and sell values. • B / S — Buyer and seller share of total volume, expressed as percentages. • Ref. Price — Reference price for breakout calculations, based on the latest pivot. • Status — Indicates whether a breakout condition is currently active (True) or has failed. 10.3 Row definitions 1. Up volume / MA up volume – Displays current buy volume on the lower timeframe and its moving average over the lookback period. 2. Down volume / MA down volume – Shows current sell volume and its moving average; sell values are formatted in red for clarity. 3. Δ / ΣΔ – Lists the difference between buy and sell volume for the current bar and the cumulative delta volume over the lookback period. 4. Σ / MA Σ (Vol/MA) – Total volume (buy + sell) for the bar, with the ratio of this volume to its moving average; the right cell shows the average total volume. 5. B/S ratio – Buy and sell share of the total volume: current bar percentages and the average percentages across the lookback period. 6. Buyer Rank / Seller Rank – Ranks the bar’s buy and sell volumes among the last (n) bars; lower rank numbers indicate higher relative volume. 7. Σ Buy / Σ Sell – Sum of buy and sell volumes over the lookback window, indicating which side has traded more. 8. Breakout UP / DOWN – Shows the breakout thresholds (Ref. Price) and whether the breakout condition is active (True) or has failed. 9. Market Phase (Vol) – Reports the current volume‑only phase: Accumulation, Distribution or Neutral. 10. Money Flow – The final rows display dollar amounts and status: – ↑ USD / Σ↑ USD – Buy dollars for the current bar and the cumulative sum over the money‑flow period. – ↓ USD / Σ↓ USD – Sell dollars and their cumulative sum. – Δ USD / ΣΔ USD – Net dollar difference (buy minus sell) for the bar and cumulatively. – Money flow (bar) – Indicates whether the bar’s net dollar flow is positive (In), negative (Out) or neutral. – Money flow Σ – Shows whether the cumulative net dollar flow across the chosen period is positive, negative or neutral. The chart above shows a sequence of different signals from the indicator. A Bull Trap Risk appears after price briefly pushes above resistance but fails to hold, then a green Accum label identifies an accumulation phase. An upward breakout follows, confirmed by a Money flow in print. Later, a Sharp ↓ Risk warns of a possible sharp downturn; after price dips below support but quickly recovers, a Bear Trap label marks a false breakdown. The highlighted info table in the center summarizes key metrics at that moment, including current and average buy/sell volumes, net delta, total volume versus its moving average, breakout status (up and down), market phase (volume), and bar‑level and cumulative money flow (In/Out). 11. Conclusion & Final Remarks This indicator was developed as a holistic study of market structure and order flow. It brings together several well‑known concepts from technical analysis—breakouts, accumulation and distribution phases, overbought and oversold extremes, bull and bear traps, sharp directional moves, market‑maker spread bars and money flow—into a single Pine Script tool. Each module is based on widely recognized trading ideas and was implemented after consulting reference materials and example strategies, so you can see in real time how these concepts interact on your chart. A distinctive feature of this indicator is its reliance on per‑side volume: instead of tallying only total volume, it separately measures buy and sell transactions on a lower time frame. This approach gives a clearer view of who is in control—buyers or sellers—and helps filter breakouts, detect phases of accumulation or distribution, recognize potential traps, anticipate sharp moves and gauge whether liquidity providers are active. The money‑flow module extends this analysis by converting volume into currency values and tracking net inflow or outflow across a chosen window. Although comprehensive, this indicator is intended solely as a guide. It highlights conditions and statistics that many traders find useful, but it does not generate trading signals or guarantee results. Ultimately, you remain responsible for your positions. Use the information presented here to inform your analysis, combine it with other tools and risk‑management techniques, and always make your own decisions when trading.
Pine Script® indicator
by ata_sabanci
15
JL - DWM OHLCThis indicator plots the following price levels on your chart automatically AND will not show up if you are using a timeframe bigger than 60 minutes, 1 day, or 1 week. Here are the price levels that are automatically plotted for you, and so you know the styling is different for Daily, Weekly, Monthly levels so you can easily distinguish between them: - Prior Day: High / Low / Close - Current Day: Open - Prior Week: High / Low / Close - Current Week: Open - Prior Month: High / Low / Close - Current Month: Open These plots are timeframe dependent and will not plot on subsequently higher timeframes, here is how they work: Daily Price Levels are only shown on timeframes that are smaller than 60 minutes. Weekly Price Levels are only shown on timeframes smaller than 1 Day. Monthly Price Levels are only shown on timeframes smaller than 1 Week. This way, you can turn on the indicator and not have to think about turning off certain price levels if you switch to a larger / longer timeframe than what you typically use. For example, Daily OHLC price levels will quickly clutter the 60 minute chart, and likely you don't need to know the HLC of the Prior Day if you are looking at the 60 minute chart. Therefor it may be helpful to automatically hide the Daily price level plots, and only show the Weekly and Monthly plots on the 60 minute timeframe. I hope you find this indicator helpful, thanks for reading.
Pine Script® indicator
by JackDL92
1H/3m Concept [RunRox]🕘 1H/3m Concept is a versatile trading methodology based on liquidity sweeps from fractal points identified on higher timeframes, followed by price reversals at these key moments. Below, I will explain this concept in detail and provide clear examples demonstrating its practical application. ⁉️ WHAT IS A FRACTALS? In trading, a fractal is a technical analysis pattern composed of five consecutive candles, typically highlighting local market turning points. Specifically, a fractal high is formed when a candle’s high is higher than the highs of the two candles on either side, whereas a fractal low occurs when a candle’s low is lower than the lows of the two adjacent candles on both sides. Traders use fractals as reference points for identifying significant support and resistance levels, potential reversal areas, and liquidity zones within price action analysis. Below is a screenshot illustrating clearly formed fractals on the chart. 📌 ABOUT THE CONCEPT The 1H/3m Concept involves marking Higher Timeframe (HTF) fractals directly onto a Lower Timeframe (LTF) chart. When a liquidity sweep occurs at an HTF fractal level, we remain on the same LTF chart (since all HTF fractals are already plotted on this lower timeframe) and wait for a clear Market Structure Shift (MSS) to identify our potential entry point. Below is a schematic illustration clearly demonstrating how this concept works in practice. Below is another 💡 real-chart example , showing liquidity in the form of a 1H fractal, swept by a rapid impulse move. Immediately afterward, a clear Market Structure Shift (MSS) occurs, signaling a potential entry point into the trade. Another example is shown below, where we see our hourly fractal, from which price clearly reacts, providing an opportunity to search for an entry point. As illustrated on the chart, the fractal levels from the higher timeframe are clearly displayed, but we’re working directly on the 5-minute chart. This allows us to remain on one timeframe without needing to switch back and forth between charts to spot such trading setups. 🔍 MTF FRACTALS This concept can be applied across various HTF-LTF timeframe combinations. Although our examples illustrate 1H fractals used on a 5-minute chart, you can effectively utilize many other timeframe combinations, such as: 30m HTF fractals on 1m chart 1H HTF fractals on 3m chart 4H HTF fractals on 15m chart 1D HTF fractals on 1H chart The key idea behind this concept is always the same: identify liquidity at fractal levels on the higher timeframe (HTF), then wait for a clear Market Structure Shift (MSS) on the lower timeframe (LTF) to enter trades. ⚙️ SETTINGS 🔷 Trade Direction – Select the preferred trading direction (Long, Short, or Both). 🔷 HTF – Choose the higher timeframe from which fractals will be displayed on the current chart. 🔷 HTF Period – Number of candles required on both sides of a fractal candle (before and after) to confirm fractal formation on the HTF. 🔷 Current TF Period – Sensitivity to the impulse that sweeps liquidity, used for identifying and forming the MSS line. 🔷 Show HTF – Enable or disable displaying HTF fractal lines on your chart. You can also customize line style and color. 🔷 Max Age (Bars) – Number of recent bars within which fractals from the selected HTF will be displayed. 🔷 Show Entry – Enable or disable displaying the MSS line on the chart. 🔷 Enable Alert – Activates TradingView alerts whenever the MSS line is crossed. You can also enable 🔔 alerts, which notify you whenever price crosses the MSS line. This significantly simplifies the process of identifying these setups on your charts. Simply configure your preferred timeframes and wait for notifications when the MSS line is crossed. 🔶 We greatly appreciate your feedback and suggestions for improving the indicator!
Pine Script® indicator
by RunRox
17
Enhanced Cumulative Volume Delta + MAThe Enhanced Cumulative Volume Delta (CVD) indicator is designed to help traders analyze the cumulative buying and selling pressure in the market by examining the delta between the up and down volume. By tracking this metric, traders can gain insights into the strength of a trend and potential reversals. This indicator uses advanced volume analysis combined with customizable moving averages to provide a more detailed view of market dynamics. How to Use This Indicator: Volume Delta Visualization: The indicator plots the cumulative volume delta (CVD) using color-coded candles, where teal represents positive delta (buying pressure) and soft red represents negative delta (selling pressure). Moving Averages: Use the moving averages to smooth the CVD data and identify long-term trends. You can choose between SMA and EMA for each of the three available moving averages. The first and third moving averages are typically used for short-term and long-term trend analysis, respectively, while the second moving average can serve as a medium-term filter. Arrow Markers: The indicator will display arrows (green triangle up for crossing above, red triangle down for crossing below) when the CVD volume crosses the 3rd moving average. You can control the visibility of these arrows through the input parameters. Volume Data: The indicator provides error handling in case no volume data is available for the selected symbol, ensuring that you're not misled by incomplete data. Practical Applications: Trend Confirmation: Use the CVD and moving averages to confirm the overall trend direction and strength. Positive delta and a rising CVD can confirm an uptrend, while negative delta and a falling CVD indicate a downtrend. Volume Breakouts: The arrows marking when the CVD crosses the 3rd moving average can help you spot potential volume breakouts or reversals, making them useful for entry or exit signals. Volume Divergence: Pay attention to divergences between price and CVD, as these can often signal potential trend reversals or weakening momentum.
Pine Script® indicator
by amit16aks
3
Day Pattern IndicatorDay Pattern Indicator The Day Pattern Indicator is designed to help traders analyze daily trends and patterns in their selected markets. This tool highlights specific days of the week on the chart with unique, semi-transparent colored bars. Each day is customizable, allowing users to toggle the visibility of Monday through Sunday to focus on days most relevant to their trading strategy. Ideal for identifying potential patterns in cryptocurrency, forex, or stock markets, the indicator is perfect for traders seeking insights into weekday or weekend market behavior. Simple, effective, and visually intuitive!
Pine Script® indicator
by kemalcox
Abdozo - Highlight First DaysAbdozo - Highlight First Days Indicator This Pine Script indicator helps traders easily identify key timeframes by highlighting the first trading day of the week and the first day of the month. It provides visual markers directly on your chart, helping you stay aware of potential market trends and turning points. Features: - Highlight First Day of the Week (Monday): Automatically marks Mondays to help you track weekly market cycles. - Highlight First Day of the Month: Spot the start of each month with ease to analyze monthly performance and trends.
Pine Script® indicator
by Abdozo
Previous Day and Week RangesI've designed the "Previous Day and Week Ranges" indicator to enhance your trading strategy by clearly displaying daily and weekly price levels. This tool shows Open-Close and High-Low ranges for both daily and weekly timeframes directly on your trading chart. Key Features : Potential Support and Resistance: The indicator highlights previous day and week ranges that may serve as key support or resistance levels in subsequent trading sessions. Customizable Display Options: Offers the flexibility to show or hide daily and weekly ranges based on your trading needs. Color Customization: Adjust the color settings to differentiate between upward and downward movements, enhancing visual clarity and chart readability. This indicator is ideal for traders aiming to understand market dynamics better, offering insights into potential pivot points and zones of price stability or volatility.
Pine Script® indicator
by tkarolak
31
Table to filter trades per dayThis script contains a block of code that allows users to filter the total number of trades, loss trades, win trades and win rate per day in a table. This makes it easier to compare which days were profitable and which were not. Be aware that this script can only be used in strategy scripts. To use the script, open it and copy every line from "START" to "STOP". Then, paste these lines at the very bottom of the strategy script that you want to attach it to. The user has the ability to adjust the position of the table and customize the size of the text displayed. If the user sets "Check when the trade:" to "Opened", the script will monitor when the trade opens and add it to the table once it has been closed. If "Check when the trade:" is set to "Closed", the script will track when the trade is closed and add it to the table once it has been closed. It is recommended to run the script on the "Exchange" setting for more accurate results, even though a "Set the timezone" option is available. This will prevent discrepancies caused by daylight saving time changes. Please note that the code will only work properly if you choose a daily timeframe or lower.
Pine Script® strategy
by S_tvr
Moon Phases + Daily, Weekly, Monthly, Quarterly & Yearly Breaks█ Moon Phases From LuxAlgo description. Trading moon phases has become quite popular among traders, believing that there exists a relationship between moon phases and market movements. This strategy is based on an estimate of moon phases with the possibility to use different methods to determine long/short positions based on moon phases. Note that we assume moon phases are perfectly periodic with a cycle of 29.530588853 days (which is not realistically the case), as such there exists a difference between the detected moon phases by the strategy and the ones you would see. This difference becomes less important when using higher timeframes. █ Daily, Weekly, Monthly, Quarterly & Yearly Breaks This indicator marks the start of the selected periods with a vertical line that help with identifying cycles. It allows to enable or disable independently the daily, weekly, monthly, quarterly and yearly session breaks. This script is based on LuxAlgo and kaushi / icostan scripts. Moon Phases Strategy Year/Quarter/Month/Week/Day breaks Month/week breaks
Pine Script® indicator
by Yatagarasu_
VWAP & Previous VWAP - MTF█ Volume Weighted Average Price & Previous Volume Weighted Average Price - Multi Timeframe This script can display the daily, weekly, monthly, quarterly, yearly and rolling VWAP but also the previous ones. █ Volume Weighted Average Price (VWAP) The VWAP is a technical analysis tool used to measure the average price weighted by volume. VWAP is typically used with intraday charts as a way to determine the general direction of intraday prices. VWAP is similar to a moving average in that when price is above VWAP, prices are rising and when price is below VWAP, prices are falling. VWAP is primarily used by technical analysts to identify market trends. █ Rolling VWAP The typical VWAP is designed to be used on intraday charts, as it resets at the beginning of the day. Such VWAPs cannot be used on daily, weekly or monthly charts. Instead, this rolling VWAP uses a time period that automatically adjusts to the chart's timeframe. You can thus use the rolling VWAP on any chart that includes ​volume information in its data feed. Because the rolling VWAP uses a moving window, it does not exhibit the jumpiness of VWAP plots that reset. For the version with standard deviation bands. MTF VWAP & StDev Bands
Pine Script® indicator
by Yatagarasu_
2
DateNow█ OVERVIEW Library "DateNow" TODO: Provide today's date based on UNIX time █ INSPIRATIONS Use pinescript v4 functions such as year(), month() and dayofmonth(). Use pinescript v5 function such as switch. Export as string variables. Not using any match function such as math.floor. █ CREDITS RicardoSantos █ KNOWN ISSUES Date for Day display incorrectly by shortage 1 value especially Year equal to or before 1984 Timezone issue. Example : I using GMT+8 for my timezone, try using other GMT will not work. Al least, GMT+2 to GMT+13 is working. GMT-0 to GMT+1 is not working, although already attempt using UTC-10 to UTC-1. dateNow()   : DateNow   Parameters:      : : _timezone   Returns: : YYYY, YY, M, MM, MMM, DD
Pine Script® library
by RozaniGhani-RG
4C Daily Levels Suite + Premarket High/LowThis '4C Daily Levels Suite + Premarket High/Low' indicator is a clean way to automatically plot important daily levels including: Prior Day High Prior Day Low Prior Day Close 50% level between Prior High/Low Today's Open Today's Premarket Low+High This Daily Levels indicator is unique in its ability to: -Plot all of the daily level PLUS premarket high/low levels (extended hours must be turned ON) -Can hide past days levels, only plotting levels on the current day, to keep chart cleaner -Can extend line levels right or fullscreen -Plots the level price at each level on the chart -Can show/hide price levels labels -Can add supplemental premarket levels plot to show levels being formed during the premarket time period -Coded with line.new vs plot so dashed lines are available as a style -Automatically hides the indicator if the timeframe selected is Daily or greater SEE SCREENSHOT EXAMPLES BELOW Default mode, with extended hours showing: With supplemental premarket plot showing: Default mode without extended hours showing: Showing past day’s levels Extend lines to fullscreen Some parts of this code were adapted from 'pd Levels' by CryptoCurl
Pine Script® indicator
by FourC
62
Day of Week Custom Buy/Sell StrategyThis strategy was made for bitcoin and allows you to back test longing or shorting for various days of the week. The price may tend to go in one direction or another for each week day, and this strategy allows you to test days across a range of dates to capitalize on this. Make sure you are on the daily time frame while viewing the performance and trade history to ensure the script works as intended and you have the most historical data as possible from Trading View.
Pine Script® strategy
by tormunddookie
2
DAYOFWEEK performance1 -Objective "What is the ''best'' day to trade .. Monday, Tuesday...." This script aims to determine if there are different results depending on the day of the week. The way it works is by dividing data by day of the week (Monday, Tuesday, Wednesday ... ) and perform calculations for each day of the week. 1 - Objective 2 - Features 3 - How to use (Examples) 4 - Inputs 5 - Limitations 6 - Notes 7 - Final Tooughs 2 - Features AVG OPEN-CLOSE Calculate de Percentage change from day open to close Green % (O-C) Percentage of days green (open to close) Average Change Absolute day change (O-C) AVG PrevD. Close-Close Percentage change from the previous day close to the day of the week close (Example: Monday (C-C) = Friday Close to Monday close Tuesday (C-C) = Monday C. to Tuesday C. Green % (C1-C) Percentage of days green (open to close) AVG Volume Day of the week Average Volume Notes: *Mon(Nº) - Nº = Number days is currently calculated Example: Monday (12) calculation based on the last 12 Mondays. Note: Discrepancies in numbers example Monday (12) - Friday (11) depend on the initial/end date or the market was closed (Holidays). 3 - How to use (Examples) For the following example, NASDAQ:AAPL from 1 Jan 21 to 1 Jul 21 the results are following. The highest probability of a Close being higher than the Open is Monday with 52.17 % and the Lowest Tuesday with 38.46 %. Meaning that there's a higher chance (for NASDAQ:AAPL ) of closing at a higher value on Monday while the highest chance of closing is lower is Tuesday. With an average gain on Tuesday of 0.21% Long - The best day to buy (long) at open (on average) is Monday with a 52.2% probability of closing higher Short - The best day to sell (short) at open (on average) is Tuesday with a 38.5% probability of closing higher (better chance of closing lower) Since the values change from ticker to ticker, there is a substantial change in the percentages and days of the week. For example let's compare the previous example ( NASDAQ:AAPL ) to NYSE:GM (same settings) For the same period, there is a substantial difference where there is a 62.5% probability Friday to close higher than the open, while Tuesday there is only a 28% probability. With an average gain of 0.59% on Friday and an average loss of -0.34% Also, the size of the table (number of days ) depends if the ticker is traded or not on that day as an example COINBASE:BTCUSD 4 - Inputs DATE RANGE Initial Date - Date from which the script will start the calculation. End Date - Date to which the script will calculate. TABLE SETTINGS Text Color - Color of the displayed text Cell Color - Background color of table cells Header Color - Color of the column and row names Table Location - Change the position where the table is located. Table Size - Changes text size and by consequence the size of the table 5 - LIMITATIONS The code determines average values based on the stored data, therefore, the range (Initial data) is limited to the first bar time. As a consequence the lower the timeframe the shorter the initial date can be and fewer weeks can be calculated. To warn about this limitation there's a warning text that appears in case the initial date exceeds the bar limit. Example with initial date 1 Jan 2021 and end date 18 Jul 2021 in 5m and 10 m timeframe: 6 - Notes and Disclosers The script can be moved around to a new pane if need. -> Object Tree > Right Click Script > Move To > New pane The code has not been tested in higher subscriptions tiers that allow for more bars and as a consequence more data, but as far I can tell, it should work without problems and should be in fact better at lower timeframes since it allows more weeks. The values displayed represent previous data and at no point is guaranteed future values 7 - Final Tooughs This script was quite fun to work on since it analysis behavioral patterns (since from an abstract point a Tuesday is no different than a Thursday), but after analyzing multiple tickers there are some days that tend to close higher than the open. PS: If you find any mistake ex: code/misspelling please comment.
Pine Script® indicator
by MA_PT
25