True Strength Index Ribbon
True Strength Index Ribbon: A new way to visualize momentum
Most TSI indicators answer a simple question:
"Is momentum bullish or bearish?"
The True Strength Index Gradient Ribbon was designed to answer a much more useful question:
"How committed is momentum to that direction?"
Instead of displaying two ordinary oscillator lines that constantly cross and overlap, this indicator transforms the relationship between the TSI and its signal line into a continuously expanding and contracting gradient ribbon.
The result is an oscillator that allows traders to recognize momentum shifts almost instantly while dramatically reducing the visual clutter common to traditional TSI implementations.
Why a ribbon?
Momentum isn't simply bullish or bearish.
It has strength.
It has conviction.
It accelerates.
It weakens.
It compresses before expanding again.
The width of the ribbon naturally visualizes the distance between the TSI and its signal line.
A widening ribbon suggests increasing directional commitment.
A narrowing ribbon often indicates weakening momentum or an approaching transition.
Instead of mentally measuring the distance between two moving lines, your eyes recognize it immediately.
Designed for mean reversion and trend trading
While the indicator performs well as a traditional trend-following oscillator, it was specifically developed with mean reversion trading in mind.
Markets spend surprisingly little time at statistically stretched levels.
By combining directional momentum with configurable extension zones, traders can quickly identify when momentum is beginning to reverse after reaching unusually extended conditions.
The indicator intentionally avoids telling traders what to buy or sell.
Instead, it provides objective information that can be combined with price action, structure, moving averages, VWAP, volume, or any existing trading methodology.
Key Features
• Innovative gradient ribbon visualization
• Multiple signal moving average options:
EMA
SMA
WMA
RMA
HMA
VWMA
ALMA
• Higher-timeframe smoothing without changing your chart timeframe
• Four display modes:
Ribbon Only
Signal Line Only
Solid Signal Line Only
Ribbon + Signal Line
• Customizable bullish, bearish, neutral, and extreme colors
• Configurable extension levels for progressively stretched market conditions
• Optional extension-zone shading
• Live Extension Grade panel showing:
Direction
Degree of extension
Current TSI value
• Bullish and bearish crossover alerts
• Extension alerts for every major threshold
Timeframe smoothing
One of the more unique capabilities of this indicator is timeframe-based smoothing.
Instead of requiring traders to constantly switch chart timeframes, the script can internally scale its smoothing calculations to approximate the behavior of a higher timeframe while remaining on the current chart.
This produces cleaner momentum structure while preserving the convenience of lower-timeframe execution.
Extension Grades
Rather than treating all overbought and oversold conditions equally, this indicator classifies momentum into progressively stronger extension levels.
Examples include:
• Moderately Extended
• Extended
• Very Extended
• Extremely Extended
The goal isn't to predict reversals simply because a market reaches an extreme.
Instead, these classifications provide context so traders can better judge when momentum has become unusually stretched.
Built for customization
Every trader sees momentum differently.
Nearly every visual element can be customized, including:
Colors
Signal moving average
Signal smoothing
Ribbon visibility
Timeframe smoothing
Extension thresholds
Zone shading
Signal line appearance
This allows the indicator to adapt to different markets, different trading styles, and different visual preferences.
Design Philosophy
The best indicators don't make trading decisions.
They improve the trader's ability to understand market behavior.
The True Strength Index Ribbon was built around one simple objective:
Transform momentum from something you calculate...
into something you can immediately see.
If this script helps your trading, consider leaving a Like and sharing your feedback. Suggestions for future improvements are always welcome.
Disclaimer
This indicator is provided for educational and informational purposes only. It is designed to assist with market analysis and should not be considered financial or investment advice. No indicator can predict future market movements or guarantee profitable trades. Always conduct your own research, use appropriate risk management, and consider multiple factors before making any trading decisions. Indicator
Indicator
Indicator
RSI + TSI Normalized v4 ============================================================================
RSI + TSI Normalized v4 — Script Overview
============================================================================
── English ─────────────────────────────────────────────────────────────────
PURPOSE
This indicator unifies RSI and TSI (True Strength Index) into a single
oscillator pane by normalizing both to a common ±50 scale centered on zero.
It then derives a weighted composite line from four components (RSI, RSI-MA,
TSI, TSI Signal) and draws an adaptive linear regression channel on that
composite — similar to the Adaptive Trend Finder concept, but applied to
momentum space rather than price.
CORE COMPONENTS
1. RSI (Normalized) — standard RSI shifted so that 50 → 0
2. RSI-MA (EMA of RSI) — smoothed RSI, drawable with user-defined offset
3. TSI — double-smoothed momentum, normalized to ±50
4. TSI Signal (EMA of TSI)— smoothed TSI, drawable with user-defined offset
5. Composite Line — weighted average of (1)–(4), scaled by a
user coefficient (0.5–1.5)
6. Regression Channel — straight-line linear regression on the composite,
with ±σ deviation bands, R² color coding,
and optional history overlay
OFFSET SYSTEM
RSI-MA and TSI Signal can each be shifted left or right (±20 bars).
All crossover detections between offset lines and non-offset lines
(composite, RSI, TSI) use a "visual crossover" algorithm that compares
values at the same *drawing* X-coordinate, not the same bar_index.
This ensures markers appear exactly where lines visually intersect.
CROSSOVER SIGNALS
③ RSI × RSI-MA — basic RSI momentum cross (hidden by default)
④ RSI × TSI — inter-indicator cross (hidden by default)
TSI Signal × RSI — diamond markers (hidden by default)
RSIMA × TSI Signal — offset-aware cross (hidden by default)
⑤ RSIMA × Composite — triangle markers, shown by default
⑥ TSI Signal × Composite — circle markers, shown by default
REGRESSION CHANNEL
Computed via manual least-squares on the composite over a configurable
lookback period. Recalculated every N bars. R² is displayed as a label
at the channel's right edge. Channel color intensity adapts to R²:
high R² = vivid blue/teal (strong trend), low R² = gray (noisy).
Past channels are preserved as dotted gray lines for trend history.
DASHBOARD TABLE
Top-right table shows real-time values: RSI, RSI-MA, TSI, TSI Signal,
MA–Signal spread, offset settings, composite value, and R².
ALERTS
JSON-formatted alertconditions for all crossover types, ready for
webhook integration.
── 日本語 ──────────────────────────────────────────────────────────────────
目的
RSI と TSI（True Strength Index）を共通の ±50 スケールに正規化し、
1つのオシレーターペインに統合するインジケーター。
4つの構成要素（RSI, RSI-MA, TSI, TSI Signal）の加重平均から合成値を算出し、
その合成値に対して Adaptive Trend Finder 風の直線回帰チャネルを描画する。
価格ではなく「モメンタム空間」にチャネル分析を適用するのが特徴。
主要コンポーネント
1. RSI（正規化） — 標準RSIを50=0基準にシフト
2. RSI-MA（RSIのEMA） — 平滑化RSI。ユーザー指定のオフセットで左右シフト可能
3. TSI — 二重平滑化モメンタム。±50に正規化
4. TSI Signal（TSIのEMA）— 平滑化TSI。ユーザー指定のオフセットで左右シフト可能
5. 合成値ライン — (1)〜(4)の加重平均 × ユーザー係数（0.5〜1.5）
6. 回帰チャネル — 合成値に対する直線回帰。±σ偏差バンド、
R²に応じた色変化、過去チャネルの履歴表示
オフセットシステム
RSI-MA と TSI Signal はそれぞれ ±20本の描画シフトが可能。
オフセット付きラインと非オフセットライン（合成値等）のクロス判定は、
「描画上の同じX座標」でのY値を比較する方式を採用。
マーカーは視覚的な交差点に正確に表示される。
クロスシグナル
③ RSI × RSI-MA — RSIモメンタムの基本クロス（デフォルト非表示）
④ RSI × TSI — 異種指標間クロス（デフォルト非表示）
TSI Signal × RSI — ダイヤモンドマーカー（デフォルト非表示）
RSIMA × TSI Signal — オフセット対応クロス（デフォルト非表示）
⑤ RSIMA × 合成値 — 三角マーカー（デフォルト表示）
⑥ TSI Signal × 合成値 — 丸マーカー（デフォルト表示）
回帰チャネル
合成値に対して最小二乗法で傾き・切片を算出し、line.new()で直線描画。
N本ごとに再計算。R²をチャネル右端にラベル表示。
R²が高い=鮮やかな青/緑（明確なトレンド）、低い=灰色（ノイズ）。
過去チャネルは灰色ドット線で残り、トレンド推移を確認可能。
ダッシュボードテーブル
右上にリアルタイム値を表示: RSI, RSI-MA, TSI, TSI Signal,
MA-Signal差, オフセット設定, 合成値, R²。
アラート
全クロスタイプのJSON形式alertconditionを搭載。Webhook連携対応。
Indicator
TSI Dual Levels - Custom TF**TSI Dual Levels — Script Note**
*by LEGOLAS*
---
**Credits & Attribution**
**True Strength Index (TSI)**
Originally developed by **William Blau**, published in *Stocks & Commodities Magazine* (1991) and his book *Momentum, Direction and Divergence* (1995). The core TSI calculation and double-smoothing methodology used in this script belongs entirely to William Blau.
**Relative Strength Index (RSI)**
Originally developed by **J. Welles Wilder Jr.**, published in *New Concepts in Technical Trading Systems* (1978). The overbought and oversold zone concept used in this script is inspired by his work.
**PulseWire Pine Script Team**
Full credit to the PulseWire development team for their built-in open-source TSI and RSI implementations available on the platform. This script reuses elements of PulseWire's open-source built-in TSI code as permitted under PulseWire's public domain exception for standard classic indicators. All credit for those implementations belongs to PulseWire.
---
**Disclaimer**
This script is a custom visual adaptation. LEGOLAS does not claim ownership of any underlying mathematics, formulas, or base Pine Script implementations. This is published open-source in full compliance with PulseWire's open-source reuse rules. No performance claims are made. Past behavior of any indicator does not guarantee future results. This script is for educational and informational purposes only and does not constitute financial advice.
---
**What does it do?**
TSI Dual Levels takes the standard True Strength Index and adds two significant original features on top of it:
1. A **dual-level overbought and oversold zone system** — giving traders two thresholds to watch rather than one, helping distinguish between a warning level and an extreme level.
2. A **dynamic color-coded momentum signal system** — the TSI line changes color in real time based on the strength of each bar's momentum move, something not present in the standard TSI.
The indicator also supports a **custom timeframe input**, allowing traders to display TSI values from a higher timeframe on any lower timeframe chart.
---
**The Zones**
There are 4 adjustable levels:
- **Overbought Zone 2 (Extreme)** — default 50. Momentum extremely stretched to the upside. Caution on longs.
- **Overbought Zone 1** — default 25. Momentum entering overbought territory. Watch for slowdowns.
- **Oversold Zone 1** — default -25. Momentum entering oversold territory. Watch for bounces.
- **Oversold Zone 2 (Extreme)** — default -50. Momentum extremely stretched to the downside. Caution on shorts.
The area between Zone 1 and Zone 2 is shaded as a warning fill. The neutral zone between overbought and oversold is also shaded separately so you can visually identify where momentum sits at a glance.
---
**The Color System**
The TSI line changes color based on the size of each bar's momentum move. This is the original feature of this script:
- 🟢 **Bright Green** — TSI moves up by 1 or more points on this bar. Strong confirmed bullish momentum.
- 🟩 **Lime Green** — TSI moves up but by less than 1 point. Momentum nudging positive, weak conviction. Watch but do not act on this alone.
- 🔴 **Bright Red** — TSI drops by 1 or more points on this bar. Strong confirmed bearish momentum.
- 🟠 **Orange** — TSI drops but by less than 1 point. Momentum nudging negative, weak conviction. Watch but do not act on this alone.
The rule is simple — if the TSI moves by 1 or more points in a single bar, the line flips to the strong color. Green for 1 or more points up. Red for 1 or more points down. If the move is less than 1 point in either direction the line stays in the weak shade — lime or orange — telling you that momentum is moving but has not committed yet. A move of less than 1 point means drift. A move of 1 or more points means drive.
All 4 colors are fully customizable in the settings.
---
**Settings**
- **Timeframe** — display TSI from a higher timeframe on your current chart
- **Long Length** — controls the first EMA smoothing period (default 25)
- **Short Length** — controls the second EMA smoothing period (default 13)
- **Signal Length** — controls the signal line EMA period (default 13)
- **Overbought / Oversold Levels** — all 4 zone values are fully adjustable
- **4 TSI Line Colors** — strong up, weak up, strong down, weak down
---
**What makes this original**
The standard PulseWire TSI has a single color line and no dual-level zone structure. The original additions in this script are the dual overbought/oversold zone system, the per-bar momentum strength color logic using the 1 or more points threshold, and the multi-timeframe input. These features combined give traders a visual momentum read that the standard TSI does not provide.
---
*All TSI mathematics belong to William Blau. RSI zone concept belongs to J. Welles Wilder Jr. PulseWire built-in implementations are the property of PulseWire. This script is published open-source by LEGOLAS. No financial advice is given or implied. Past indicator behavior does not guarantee future results.* Indicator
BK AK-Pivot Wolf🐺 BK AK–Momentum Pivot Wolf — Momentum / Pivots / Confluence 🐺
🙏 All glory to G-d.
Built with standards and discipline passed down by my mentor AK— thank you for giving real instruction without being cheap about it — no holding back, no protecting secrets.
Update / Record
A previous version of this publication was hidden due to insufficient description.
This republish is a complete, self-contained explanation of what the script does, how it works, what signals mean, what settings do, and key limitations.
✨ What this script does
Pivot Wolf is a TSI-based momentum oscillator system that focuses on:
extremes → pivots → confirmation, then adds confluence layers (VWAP, MTF alignment, SNR, volume, regime) to reduce chop and low-quality signals.
It’s designed to help you:
Identify momentum extremes using Dynamic or Static bands
Detect oscillator pivots that form at extremes (main pivot signals)
Mark divergences (regular + hidden) between price and oscillator
Confirm/grade signals using a 0–100 scoring system (or legacy hard filters)
Visualize context via VWAP gating, MTF dashboard, and regime state
Project post-pivot expectation zones via T1 / T2 targets
Optionally enable historical learning that only applies overrides when validation is strong
🧠 How it works
1) Momentum engine (TSI blend)
Computes Fast TSI and Slow TSI
Optional Adaptive Blend: volatility-weighted mixing using ATR% normalization over a lookback so momentum can be responsive in calm markets and less noisy in high volatility
A Signal EMA smooths momentum to detect cross/shift
2) Bands define “extremes”
Bands define statistically “stretched” momentum.
Dynamic mode: uses StdDev (or robust MAD) over a lookback, multiplied by a factor
Static mode: fixed ± level
Optional band smoothing to reduce jitter
“Extreme” is simply: momentum beyond the band (with optional tolerance rules)
3) Pivot detection (main signals)
Detects oscillator pivot lows/highs using pivotLen
A “strong” pivot signal is when:
Pivot Low forms below the Lower Band (oversold)
Pivot High forms above the Upper Band (overbought)
Marker style/size/colors are configurable, and tooltips explain context
Important: pivots are confirmed only after pivotLen bars to the right (this is normal pivot behavior).
4) Divergence logic (regular + hidden)
Tracks the last two oscillator pivots and compares them with price pivots:
Bullish divergence: price makes a lower low while oscillator makes a higher low
Bearish divergence: price makes a higher high while oscillator makes a lower high
Hidden bullish divergence: price higher low + oscillator lower low
Hidden bearish divergence: price lower high + oscillator higher high
Optional: Require extreme so divergences only count when pivots occur outside bands.
5) Confluence + scoring (0–100)
Instead of relying only on hard rules, Pivot Wolf can compute bull/bear scores from multiple inputs:
VWAP gate: position and/or slope logic (PositionOnly / SlopeOnly / Both / Either)
MTF alignment: direction across up to 6 selected timeframes + dashboard visualization
SNR (Signal-to-Noise Ratio): reduces signals during chop by comparing momentum gap vs recent noise
Volume confirmation: bullish confirmation vs bearish exhaustion/spike logic
Acceleration / deceleration: early warning + risk markers when momentum behavior changes rapidly
Consolidation filter: ATR regime compression penalty
Price structure: HH/LL checks to avoid fighting structure
Whipsaw guard: enforces a minimum bar gap between opposite signals
Signals can show as:
Strong = passes gating + score threshold (or legacy rules)
Weak (optional) = “scout” setups (score in 50–threshold range)
6) Targets / projections (T1 / T2)
After confirmed pivots, it projects expectation zones based on recent run behavior:
T1 = 0.618 projection
T2 = 1.000 projection
Targets can display continuously or only reveal when momentum approaches (to reduce clutter).
7) Optional historical learning (validation-gated)
If enabled, the script:
records pivot “outcomes” after mlForwardBars
runs a simple train/validation pass
only applies learned overrides when validation is strong and not overfit
If validation fails, it reverts to manual settings.
Note: This “learning” is heuristic optimization inside Pine (not external ML), and overrides are applied only when conditions are met.
🧭 How to use
Check the MTF dashboard for alignment (avoid fighting the stack).
Let momentum reach band extremes (OB/OS).
Treat pivot signals as highest value when Score is strong + VWAP gate agrees.
Use divergence as added weight, not as the sole trigger.
Manage around T1/T2 as structured expectation zones.
📌 Signals & visuals (what you’ll see)
Momentum line with optional gradient (strength/quality feel)
Signal line (EMA)
Upper/Lower bands + optional fills
Extreme dots/edges at band breaks (optional)
Cross stars on momentum/signal crosses (optional)
Divergence markers (◆ regular, ◇ hidden) + optional connector lines
MTF dashboard (direction + strength + confluence)
Info panel meters (Bull, Bear, Net, Osc Position, MTF, Quality, Regime, VWAP Pressure)
Optional stop suggestion markers (ATR/Swing/Pivot/Band methods)
⚙️ Key settings
Core Momentum: TSI lengths, signal EMA, adaptive blend & volatility lookback
Bands/Extremes: Dynamic vs Static bands, basis (StdDev/MAD), smoothing
Pivots & Divergence: pivot sensitivity, max bars between pivots, line/marker toggles
Filters: VWAP gate, MTF bias, SNR, volume, consolidation, structure, whipsaw
Targets/ML: T1/T2 projection logic + optional historical learning validation
Dashboards/Panels: MTF dashboard + Info panel positioning & styling
Performance mode: reduces heavy visual updates if needed
🔔 Alerts included
Bullish/Bearish signal alerts
Divergence detected
Early warning acceleration alerts
Optional regime peak/valley switch alert
(Alerts can be throttled via “Alert Settings”.)
✅ Repainting / confirmation notes (important)
Pivot highs/lows confirm after pivotLen bars by design. Signals appear once the pivot is confirmed.
MTF calculations use request.security(..., lookahead=barmerge.lookahead_off) to avoid forward-looking HTF values.
Anything based on confirmed pivots is inherently delayed by the pivot confirmation window.
⚠️ Known limitations / best practices
VWAP/Volume-based logic depends on reliable volume data. Some symbols/feeds may behave differently.
The script is information-dense; if you hit resource limits, use:
Limit labels
Reduce divergence lines
Turn off heavy visuals (fills, heatmap, dashboards)
Enable Performance mode
This tool is built for structure and confluence, not prediction. It will often stay quiet during chop—by design.
👁️🗨️ King Solomon Lens
“Solomon didn’t predict. He judged. He built tests that made truth show itself. Pivot Wolf is that: pivots as boundary stones, momentum as witness, acceleration as the confession. No hammer in the Temple — rules are cut before entry. When it’s quiet, it’s saving you. When it speaks, it’s a ruling.”
Disclaimer
This script is for educational and informational purposes only. It does not provide financial advice, and it does not guarantee results. You are responsible for your own decisions, testing, and risk management.
🙏 All glory to G-d—the source of all wisdom and every true edge. 🙏 Indicator
Indicator
Strategy
Strategy
True Strength Index with Crossovers Alerts🚀 True Strength Index (TSI) with Visual Crossover Alerts
Hey everyone! I’m sharing my customized True Strength Index (TSI) indicator, which I've boosted with clear visual signals and alert conditions based on my personal, high-probability trading strategy.
The True Strength Index is a powerful, oscillation-based momentum indicator that smooths price movements twice using Exponential Moving Averages (EMAs). This double-smoothing process helps to filter out market noise, giving you a much clearer view of momentum changes than basic indicators.
🛠️ How This Script Works
This script focuses on the crucial interaction between the TSI line and its Signal Line:
TSI Line (Blue): Tracks momentum direction and strength.
Signal Line (Red): A simple EMA of the TSI line, used to determine short-term trend shifts.
Visual Buy/Sell Signals:
To make signals impossible to miss, I've added distinct visual markers:
🟢 Green Dot: A "Buy Signal" is plotted at the bottom of the indicator pane when the TSI crosses above the Signal Line (bullish crossover).
🔴 Red Dot: A "Sell Signal" is plotted at the bottom when the TSI crosses below the Signal Line (bearish crossover).
Additionally, I've included named alertconditions so you can set up real-time notifications for these exact crossovers in the PulseWire Alert system.
🧠 My Trading Logic: Combining TSI with RSI
I don't use the TSI in isolation. My favorite approach is to use this TSI indicator as a timing tool, but only when it aligns with the overall momentum context defined by the Relative Strength Index (RSI).
This is the key to my strategy:
Bullish Trade Filter: I only take a BUY signal (Green Dot) when my RSI indicator is already in a bullish territory (above 50).
Bearish Trade Filter: I only take a SELL signal (Red Dot) when my RSI indicator is already in a bearish territory (below 50).
This combination ensures you are trading with the underlying momentum trend, improving the probability of success.
⚙️ My Recommended Custom Settings
For the best results with this strategy, I recommend using the following custom settings. You can enter these values in the "Inputs" tab when adding the indicator to your chart.
1. TSI (Alerts) Settings
Long Length - 60
Higher value for smoother price change data.
Short Length -30
Medium-term smoothing for clearer momentum shifts.
Signal Length - 9
Short length for a responsive signal line.
2. Companion RSI Settings (RSI+)
RSI Length - 150
A long look-back period for highly accurate trend filtering.
MA1 Length - 60
Used for additional smoothing.
MA2 Length - 150
Used for powerful trend confluence.
Indicator
Indicator
Trend Strength Oscillator📌 What Is the Trend Strength Oscillator?
The Trend Strength Oscillator is a visual tool that helps traders understand the overall direction and strength of the market trend. Instead of using multiple indicators separately, this tool combines three trusted methods into one clear, color-coded bar chart. The bars change based on whether the market is strongly trending up, down, or just moving sideways.
Imagine it as a traffic light for trading:
• Green means it’s safe to consider buying (strong uptrend).
• Red means consider selling or avoiding longs (strong downtrend).
• Gray means wait, the market isn’t clearly trending.
🧠 How It Works — The 3 Main Components
1. EMA Slope
The EMA (Exponential Moving Average) tracks the average price but reacts more quickly to changes. If the EMA is rising, it means the market is likely moving upward. If it’s falling, the trend is likely downward.
2. RSI Direction
RSI (Relative Strength Index) measures momentum. This tool compares the RSI to its smoothed average. If the RSI is above its average, momentum is up. If it’s below, momentum is down.
3. ADX Strength
ADX (Average Directional Index) measures how strong a trend is, not the direction. So even if EMA and RSI agree on a trend, the ADX must confirm it’s strong enough to be worth trading.
Only when all three indicators agree do we consider it a strong trend.
🧮 What the Oscillator Shows
The result of combining those components is a number that becomes a colored bar:
• +2 means all three signals are bullish → green bar.
• -2 means all three signals are bearish → red bar.
• Anything else (e.g., mixed signals or weak ADX) → gray bar.
This makes the chart super easy to read at a glance, even for beginners.
📈 How to Use It in Trading
You can use the Trend Strength Oscillator in a few simple ways:
• Entering Trades:
Look for a green bar when you want to buy or go long. Look for a red bar when you want to sell or go short. These bars mean all systems are “go” in the same direction.
• Avoiding Mistakes:
If the bar is gray, it’s a warning that the market is undecided or weak. It’s often better to wait for a clearer signal rather than force a trade.
• Managing Existing Trades:
If you’re in a trade and the bar color shifts back to gray, that can be a clue that the trend is losing strength. You might tighten your stop-loss or take some profit.
🧭 Final Thoughts
This indicator doesn’t give you a trade entry every few minutes. Instead, it helps you stay on the right side of strong moves and avoid choppy or sideways markets. It’s especially helpful for:
• Trend-following traders
• People who want clean, simple visuals
• Beginners who get overwhelmed with too many indicators
Let me know if you'd like to see this paired with another tool like volume or MACD, or if you’d like a chart screenshot to visualize how this looks live.
Indicator
BK AK-Scope🔭 Introducing BK AK-Scope — Target Locked. Signal Acquired. 🔭
After building five precision weapons for traders, I’m proud to unveil the sixth.
BK AK-Scope — the eye of the arsenal.
This is not just an indicator. It’s an intelligence system for volatility, signal clarity, and rate-of-change dynamics — forged for elite vision in any market terrain.
🧠 Why “Scope”? And Why “AK”?
Every shooter knows: you can’t hit what you can’t see.
The Scope brings range, clarity, and target distinction. It filters motion from noise. Purpose from panic.
“AK” continues to honor the man who trained my sight — my mentor, A.K.
His discipline taught me to wait for alignment. To move with reason, not emotion.
His vision lives in every code line here.
🔬 What Is BK AK-Scope?
A Triple-Tier TSI Correlation Engine, fused with adaptive opacity logic, a volatility scoring system, and real-time signal clarity. It’s momentum dissected — by speed, depth, and rate of change.
Built to serve traders who:
Need visual hierarchy between fast, mid, and slow TSI responses.
Want adaptive fills that pulse with volatility — not static zones.
Require a volatility scoring overlay that reads the battlefield in real time.
⚙️ Core Systems: How BK AK-Scope Works
✅ Fast/Mid/Slow TSI →
Three layers of correlation: like scopes with zoom levels.
You track micro moves, mid swings, and macro flow simultaneously.
✅ Rate-of-Change Adaptive Opacity →
Momentum fills fade or flash based on speed — giving you movement density at a glance.
Bull vs. Bear zones adapt to strength. You feel the market’s pulse.
✅ Volatility Score Intelligence →
Custom algorithm measuring:
Range expansion
Rate-of-change differentials
ATR dynamics
Standard deviation pressure
All combined into a score from 0–100 with live icons:
🔥 = Extreme Heat (70+)
🧊 = Cold Zone (<30)
⚠️ = ROC Warning
• = Neutral drift
✅ Auto-Detect Volatility Modes →
Scalp = <15min
Swing = intraday/hourly
Macro = daily/weekly
Or override manually with total control.
🎯 How To Use BK AK-Scope
🔹 Trend Continuation → When all three TSI layers align in direction + volatility score climbs, ride with the trend.
🔹 Early Reversals → Opposing TSI + rapid opacity change + volatility shift = sniper reversal zone.
🔹 Consolidation Filter → Neutral fills + score < 30 = stay out, wait for signal surge.
🔹 Signal Confluence → Pair with:
• Gann fans or angles
• Fib time/price clusters
• Elliott Wave structure
• Harmonics or divergence
To isolate entry perfection.
🛡️ Why This Indicator Changes the Game
It's not just momentum. It’s TSI with depth hierarchy.
It’s not just color. It’s real-time strength visualization.
It’s not just volatility. It’s rate-weighted market intelligence.
This is market optics for the advanced trader — built for vision, clarity, and discipline.
🙏 Final Thoughts
🔹 In honor of A.K., my mentor. The man who taught me to see what others miss.
🔹 Inspired by the power of vision — because execution without clarity is chaos.
🔹 Powered by faith — because Gd alone gives sight beyond the visible.
“He gives sight to the blind and wisdom to the humble.” — Psalms 146
Every tool I build is a prayer in code — that it helps someone trade with clarity, integrity, and precision.
⚡ Zoom In. Focus Deep. Trade Clean.
BK AK-Scope — Lock on the target. See what others don’t.
🔫 Clarity is power. 🔫
Gd bless. 🙏 Indicator
Sentiment Master Oscillator[BullByte]
The Sentiment Master Oscillator is a modern market sentiment indicator designed for traders seeking to identify early trend shifts and potential reversals with clarity. This oscillator combines multiple technical tools—RSI, MACD, EMAs, ADX, ATR, and volume filters—to deliver layered signals that help you assess market momentum in a clear and simplified manner.
Key Features:
- Multi-Indicator Approach :
Integrates RSI (with a smoothing function), MACD, and two EMAs to gauge momentum and trend direction. The oscillator also includes ADX and ATR filters to ensure that only markets with sufficient directional strength and volatility generate signals.
- Dynamic Signal Zones :
The oscillator produces a raw value ranging roughly from -3 to +3 (adjustable via a scaling factor). Positive readings suggest bullish conditions, while negative readings indicate bearish trends. Visual zones (Early, Confirmed, Strong) are clearly marked with color-coded horizontal lines to help you interpret the strength of the signal at a glance.
- Adaptive Smoothing :
For those who prefer quicker, more responsive signals (ideal for scalping), an adaptive smoothing option is available. When enabled, it applies a shorter smoothing period to the oscillator; otherwise, a more conservative base period is used.
- Reversal Alerts :
Yellow dots are plotted on the chart to highlight potential reversal points. These alerts are triggered when the oscillator crosses specific thresholds, coupled with volume and ATR conditions, signaling that a top or bottom may be forming.
- Customizable Filters :
- ATR Filter :Ensures that the market's volatility is above a set threshold before signaling.
- ADX Filter :Confirms sufficient trend strength.
- Volume Filter : Requires that trading volume surges above a multiple of its simple moving average, filtering out low-volume noise.
- Clear Signal Messaging :
Based on the combined signals from various indicators, the script categorizes market sentiment into actionable messages such as "Early Buy", "Confirmed Buy", "Strong Buy", "Early Sell", "Confirmed Sell", and "Strong Sell". A "Grey Zone" label is used when the oscillator is near neutral, indicating that no clear trend is present.
How to Use :
1. Entry and Exit Decisions : Use the different signal stages (Early, Confirmed, Strong) as guides for your entries and exits.
2. Trend Confirmation : Rely on the multi-indicator setup for added confirmation of prevailing market conditions before executing trades.
3. Reversal Cues : Pay attention to the reversal dots for potential turning points in the market, which can be used to adjust positions or initiate trades.
Disclaimer:
This indicator is intended for educational and informational purposes only. It should not be taken as financial advice. Always use appropriate risk management and combine it with your analysis before making any trading decisions. Past performance is not indicative of future results.
By adhering to PulseWire's publishing guidelines, the BullByte Sentiment Master is designed to provide transparency, simplicity, and robust analysis tools to enhance your trading strategy. Enjoy a clearer view of market sentiment and make more informed trading decisions! Indicator
Aggregated Spot vs Perp Volume (% Change)Aggregated Spot vs Perp Volume (% Change)
Description
The "Aggregated Spot vs Perp Volume (% Change)" indicator helps crypto traders compare the momentum of spot and perpetual futures (perp) trading volumes across 12 major exchanges. It calculates the percentage change in volume from one bar to the next, highlighting divergences and showing which market—spot or perp—is leading a move. By focusing on relative changes, it eliminates the issue of absolute volume differences, making trends clear.
The indicator aggregates data from Binance, Bybit, OKX, Coinbase, Bitget, MEXC, Phemex, BingX, WhiteBIT, BitMEX, Kraken, and HTX. Users can toggle exchanges and choose to measure volume in coin units (e.g., BTC) or USD.
How It Works
Volume Aggregation:
Fetches spot and perp volume data for the selected crypto (e.g., BTC) from up to 12 exchanges.
Spot volume is included only if perp volume is available for the same pair, ensuring consistency.
Volume can be measured in coin units or USD (volume × spot price).
Percentage Change:
Calculates the percentage change in spot and perp volumes from the previous bar:
Percentage Change = ((Current Volume − Previous Volume) / Previous Volume) ×100
This focuses on relative momentum, making spot and perp volumes directly comparable.
Visualization:
Spot volume % change is plotted as a blue line, and perp volume % change as a red line, both with a linewidth of 1.
Who Should Use It
Crypto Traders: To understand spot vs. perp market dynamics across exchanges.
Momentum Traders: To spot which market is driving price moves via volume divergences.
Scalpers/Day Traders: For identifying short-term shifts in market activity.
Analysts: To study liquidity and sentiment in crypto markets.
How to Use It
Blue line: Spot volume % change.
Red line: Perp volume % change.
Look for divergences (e.g., a sharp rise in the red line but not the blue line suggests perp markets are leading).
Combine with Price:
Use alongside price charts to confirm trends or spot potential reversals.
Context
Spot markets reflect actual asset trading, while perp markets, with leverage, attract speculative activity and often show higher volumes. This indicator uses percentage change to compare their momentum, helping traders identify market leadership and divergences. For example, a 50% increase in both spot and perp volumes plots at the same level, making it easy to see relative shifts across exchanges. Indicator
TSI Long/Short for BTC 2HThe TSI Long/Short for BTC 2H strategy is an advanced trend-following system designed specifically for trading Bitcoin (BTC) on a 2-hour timeframe. It leverages the True Strength Index (TSI) to identify momentum shifts and executes both long and short trades in response to dynamic market conditions.
Unlike traditional moving average-based strategies, this script uses a double-smoothed momentum calculation, enhancing signal accuracy and reducing noise. It incorporates automated position sizing, customizable leverage, and real-time performance tracking, ensuring a structured and adaptable trading approach.
🔹 What Makes This Strategy Unique?
Unlike simple crossover strategies or generic trend-following approaches, this system utilizes a customized True Strength Index (TSI) methodology that dynamically adjusts to market conditions.
🔸 True Strength Index (TSI) Filtering – The script refines the TSI by applying double exponential smoothing, filtering out weak signals and capturing high-confidence momentum shifts.
🔸 Adaptive Entry & Exit Logic – Instead of fixed thresholds, it compares the TSI value against a dynamically determined high/low range from the past 100 bars to confirm trade signals.
🔸 Leverage & Risk Optimization – Position sizing is dynamically adjusted based on account equity and leverage settings, ensuring controlled risk exposure.
🔸 Performance Monitoring System – A built-in performance tracking table allows traders to evaluate monthly and yearly results directly on the chart.
📊 Core Strategy Components
1️⃣ Momentum-Based Trade Execution
The strategy generates long and short trade signals based on the following conditions:
✅ Long Entry Condition – A buy signal is triggered when the TSI crosses above its 100-bar highest value (previously set), confirming bullish momentum.
✅ Short Entry Condition – A sell signal is generated when the TSI crosses below its 100-bar lowest value (previously set), indicating bearish pressure.
Each trade execution is fully automated, reducing emotional decision-making and improving trading discipline.
2️⃣ Position Sizing & Leverage Control
Risk management is a key focus of this strategy:
🔹 Dynamic Position Sizing – The script calculates position size based on:
Account Equity – Ensuring trade sizes adjust dynamically with capital fluctuations.
Leverage Multiplier – Allows traders to customize risk exposure via an adjustable leverage setting.
🔹 No Fixed Stop-Loss – The strategy relies on reversals to exit trades, meaning each position is closed when the opposite signal appears.
This design ensures maximum capital efficiency while adapting to market conditions in real time.
3️⃣ Performance Visualization & Tracking
Understanding historical performance is crucial for refining strategies. The script includes:
📌 Real-Time Trade Markers – Buy and sell signals are visually displayed on the chart for easy reference.
📌 Performance Metrics Table – Tracks monthly and yearly returns in percentage form, helping traders assess profitability over time.
📌 Trade History Visualization – Completed trades are displayed with color-coded boxes (green for long trades, red for short trades), visually representing profit/loss dynamics.
📢 Why Use This Strategy?
✔ Advanced Momentum Detection – Uses a double-smoothed TSI for more accurate trend signals.
✔ Fully Automated Trading – Removes emotional bias and enforces discipline.
✔ Customizable Risk Management – Adjust leverage and position sizing to suit your risk profile.
✔ Comprehensive Performance Tracking – Integrated reporting system provides clear insights into past trades.
This strategy is ideal for Bitcoin traders looking for a structured, high-probability system that adapts to both bullish and bearish trends on the 2-hour timeframe.
📌 How to Use: Simply add the script to your 2H BTC chart, configure your leverage settings, and let the system handle trade execution and tracking! 🚀 Strategy
OBV TSI IndicatorThe OBV TSI Indicator combines two powerful technical analysis tools: the On-Balance Volume (OBV) and the True Strength Index (TSI). This hybrid approach provides insights into both volume dynamics and momentum, helping traders identify potential trend reversals, breakouts, or continuations with greater accuracy.
The OBV TSI Indicator tracks cumulative volume shifts via OBV and integrates the TSI for momentum analysis. It offers customizable moving average options for further smoothing. Visual trendlines, pivot points, and signal markers enhance clarity.
The OBV tracks volume flow by summing volumes based on price changes. Positive volume is added when prices rise, and negative volume is subtracted when prices fall. The result is smoothed to detect meaningful trends in volume. A volume spread is derived from the difference between the smoothed OBV and cumulative volume. This is then adjusted by the price deviation to generate the shadow spread, which highlights critical volume-driven price levels.
The shadow spread is added to either the high or low price, depending on its sign, producing a refined OBV output. This serves as the main source for the subsequent TSI calculation. The TSI is a momentum oscillator calculated using double-smoothed price changes. It provides an accurate measure of trend strength and direction.
Various moving average options, such as EMA, DEMA, or TEMA, are applied to the smoothed OBV for additional trend filtering. Users can select their preferred type and length to suit their trading strategy. Trendlines are plotted to visualize the overall direction. When a significant change in trend is detected, up or down arrows indicate potential buy or sell signals. The script identifies key pivot points based on the highest and lowest levels within a defined period. These pivots help pinpoint reversal zones.
The indicator offers customization options, allowing users to adjust the OBV length for smoothing, choose from various moving average types, and fine-tune the short, long, and signal periods for TSI. Additionally, users can toggle visibility for trendlines, signals, and pivots to suit their preferences.
This indicator is ideal for practical use cases such as spotting potential trend reversals by observing TSI crossovers and pivot levels, anticipating breakouts from key price levels using the shadow spread, and validating trends by aligning TSI signals with OBV and moving averages.
The OBV TSI Indicator is a versatile tool designed to enhance decision-making in trading by combining volume and momentum analysis. Its flexibility and visual aids make it suitable for traders of all experience levels. By leveraging its insights, you can confidently navigate market trends and improve your trading outcomes. Indicator
Xtrender and TSI FusionXtrender and TSI Fusion Indicator
I created this indicator for myself. I was inspired by the indicators created by Bjorgum, Duyck and QuantTherapy and decided to create multiple indicators that either work well combined with their indicators or something new that applies some of their indicator concepts. I decided to share all of the indicator I have created because I believe in learning and earing together as a community. If you guys have any questions or suggestions write them.
Overview: The Xtrender and TSI Fusion Indicator is a powerful tool designed to help traders analyze market momentum, trends, and potential reversals. By combining Xtrender with the True Strength Index (TSI), this indicator provides a comprehensive view of market dynamics, making it easier to identify trading opportunities.
Image: Timeframe is set to daily
Features:
1.Xtrender Analysis:
Short-Term Xtrender: Visualizes short-term momentum using RSI-based calculations on EMA differences. This helps in identifying immediate market trends and pullbacks.
Image above: showcases Short-Term Xtrender
Xtrender T3: A smoothed version of the Xtrender that reduces noise and highlights significant trend changes.
Image above: showcases Xtrender T3 with Xtrender T3 color
2.TSI (True Strength Index):
TSI Value: Measures momentum by comparing price changes over two time periods, offering a clear view of trend strength.
TSI Signal Line: A smoothed version of the TSI value, used to generate buy and sell signals when crossed by the TSI.
Image: showcases TSI Value with TSI Signal Line
TSI Histogram: Shows the difference between the TSI and its signal line, highlighting potential reversals and trend continuations.
Image: showcases TSI Histogram
3.Color Coding and Visual Cues:
Trend Colors: The indicator uses dynamic colors to represent bullish or bearish conditions, making it easy to interpret market sentiment.
Background Color : The background changes color based on TSI signals, further aiding in visual trend analysis.
Image: showcases Background color and Zero line
How to Use
1.Xtrender Analysis:
Short-Term Xtrender: The short-term Xtrender is plotted as columns, changing color based on its direction and value. Green or lime indicates positive momentum, while red or maroon indicates negative momentum.
Xtrender T3: The Xtrender T3 line (black) represents a smoothed version of the short-term Xtrender, providing a clearer picture of the overall trend. The color of this line changes based on the Xtrender's value, helping you spot potential trend changes.
2.TSI (True Strength Index):
TSI Value and Signal Line: The TSI value is plotted as a line, with its color changing based on its relationship to the signal line. A crossover of the TSI above the signal line suggests a potential bullish move, while a crossover below indicates a bearish trend.
TSI Histogram: The histogram represents the difference between the TSI and its signal line. Positive values indicate bullish momentum, while negative values suggest bearish momentum.
3.Background Color:
The background color changes based on the TSI signal, with a greenish hue indicating bullish conditions and a reddish hue indicating bearish conditions. This provides a quick visual reference for market sentiment.
4.Zero Line:
A horizontal gray dotted line at the zero level helps you easily identify when the Xtrender or TSI crosses into positive or negative territory, signaling potential trend shifts.
Image above: Timeframe on daily with the individual elements combined
Example of Use:
•Trend Confirmation: Use the Xtrender and Xtrender T3 to confirm the direction of the trend. If both are aligned with the same color and direction, it increases the probability of a strong trend.
•Momentum Reversals: Watch for TSI crosses and histogram shifts to identify potential reversals. For example, a TSI crossover above its signal line with a corresponding change in the histogram from negative to positive could signal a buying opportunity.
•Pullbacks: Identify pullbacks within a trend by observing temporary shifts in the short-term Xtrender or TSI histogram. Use these signals to enter trades in the direction of the overall trend.
Image above: Showcases, Trend confirmation, reversal and pullbacks on daily timeframe.
Customization:
•TSI Speed: Choose between "Fast" and "Slow" TSI settings based on your trading style. Fast settings are more responsive to price changes, while slow settings offer smoother signals.
•Color Settings: Customize the colors for bullish, bearish, and neutral TSI conditions to match your personal preferences or chart theme.
This indicator is versatile and can be used for various trading strategies, from trend following to momentum trading, making it a valuable tool in any trader's arsenal.
My Scripts/Indicators/Ideas /Systems that I share are only for educational purposes
Indicator
Strategy
Heikin Ashi TSI and OTT [Erebor]TSI (True Strength Index)
The TSI (True Strength Index) is a momentum-based trading indicator used to identify trend direction, overbought/oversold conditions, and potential trend reversals in financial markets. It was developed by William Blau and first introduced in 1991.
Here's how the TSI indicator is calculated:
• Double Smoothed Momentum (DM): This is calculated by applying double smoothing to the price momentum. First, the single smoothed momentum is calculated by subtracting the smoothed closing price from the current closing price. Then, this single smoothed momentum is smoothed again using an additional smoothing period.
• Absolute Smoothed Momentum (ASM): This is calculated by applying smoothing to the absolute value of the price momentum. Similar to DM, ASM applies a smoothing period to the absolute value of the difference between the current closing price and the smoothed closing price.
• TSI Calculation: The TSI is calculated as the ratio of DM to ASM, multiplied by 100 to express it as a percentage. Mathematically, TSI = (DM / ASM) * 100.
The TSI indicator oscillates around a centerline (typically at zero), with positive values indicating bullish momentum and negative values indicating bearish momentum. Traders often look for crossovers of the TSI above or below the centerline to identify shifts in momentum and potential trend reversals. Additionally, divergences between price and the TSI can signal weakening trends and potential reversal points.
Pros of the TSI indicator:
• Smoothed Momentum: The TSI uses double smoothing techniques, which helps to reduce noise and generate smoother signals compared to other momentum indicators.
• Versatility: The TSI can be applied to various financial instruments and timeframes, making it suitable for both short-term and long-term trading strategies.
• Trend Identification: The TSI is effective in identifying the direction and strength of market trends, helping traders to align their positions with the prevailing market sentiment.
Cons of the TSI indicator:
• Lagging Indicator: Like many momentum indicators, the TSI is a lagging indicator, meaning it may not provide timely signals for entering or exiting trades during rapidly changing market conditions.
• False Signals: Despite its smoothing techniques, the TSI can still produce false signals, especially during periods of low volatility or ranging markets.
• Subjectivity: Interpretation of the TSI signals may vary among traders, leading to subjective analysis and potential inconsistencies in trading decisions.
Overall, the TSI indicator can be a valuable tool for traders when used in conjunction with other technical analysis tools and risk management strategies. It can help traders identify potential trading opportunities and confirm trends, but it's essential to consider its limitations and incorporate additional analysis for more robust trading decisions.
Heikin Ashi Candles
Let's consider a modification to the traditional “Heikin Ashi Candles” where we introduce a new parameter: the period of calculation. The traditional HA candles are derived from the open , high low , and close prices of the underlying asset.
Now, let's introduce a new parameter, period, which will determine how many periods are considered in the calculation of the HA candles. This period parameter will affect the smoothing and responsiveness of the resulting candles.
In this modification, instead of considering just the current period, we're averaging or aggregating the prices over a specified number of periods . This will result in candles that reflect a longer-term trend or sentiment, depending on the chosen period value.
For example, if period is set to 1, it would essentially be the same as traditional Heikin Ashi candles. However, if period is set to a higher value, say 5, each candle will represent the average price movement over the last 5 periods, providing a smoother representation of the trend but potentially with delayed signals compared to lower period values.
Traders can adjust the period parameter based on their trading style, the timeframe they're analyzing, and the level of smoothing or responsiveness they prefer in their candlestick patterns.
Optimized Trend Tracker
The "Optimized Trend Tracker" is a proprietary trading indicator developed by PulseWire user ANIL ÖZEKŞİ. It is designed to identify and track trends in financial markets efficiently. The indicator attempts to smooth out price fluctuations and provide clear signals for trend direction.
The Optimized Trend Tracker uses a combination of moving averages and adaptive filters to detect trends. It aims to reduce lag and noise typically associated with traditional moving averages, thereby providing more timely and accurate signals.
Some of the key features and applications of the OTT include:
• Trend Identification: The indicator helps traders identify the direction of the prevailing trend in a market. It distinguishes between uptrends, downtrends, and sideways consolidations.
• Entry and Exit Signals: The OTT generates buy and sell signals based on crossovers and direction changes of the trend. Traders can use these signals to time their entries and exits in the market.
• Trend Strength: It also provides insights into the strength of the trend by analyzing the slope and momentum of price movements. This information can help traders assess the conviction behind the trend and adjust their trading strategies accordingly.
• Filter Noise: By employing adaptive filters, the indicator aims to filter out market noise and false signals, thereby enhancing the reliability of trend identification.
• Customization: Traders can customize the parameters of the OTT to suit their specific trading preferences and market conditions. This flexibility allows for adaptation to different timeframes and asset classes.
Overall, the OTT can be a valuable tool for traders seeking to capitalize on trending market conditions while minimizing false signals and noise. However, like any trading indicator, it is essential to combine its signals with other forms of analysis and risk management strategies for optimal results. Additionally, traders should thoroughly back-test the indicator and practice using it in a demo environment before applying it to live trading.
The following types of moving average have been included: "SMA", "EMA", "SMMA (RMA)", "WMA", "VWMA", "HMA", "KAMA", "LSMA", "TRAMA", "VAR", "DEMA", "ZLEMA", "TSF", "WWMA". Thanks to the authors.
Thank you for your indicator “Optimized Trend Tracker”. © kivancozbilgic
Thank you for your programming language, indicators and strategies. © PulseWire
Kind regards.
© Erebor_GIT
Indicator
SMIIO + VolumeThis indicator generates long and short signals.
The operation of the indicator is as follows;
First, true strength index is calculated with closing prices. We call this the "ergodic" curve.
Then the average of the ergodic (ema) is calculated to obtain the "signal" curve.
To calculate the "oscillator", the signal is subtracted from ergodic (oscillator = ergodic - signal).
The last variable to be used in the calculation is the average volume, calculated with sma.
Calculation for long signal;
- If the ergodic curve cross up the zero line (ergodic > 0 AND ergodic < 0) and,
- If the current oscillator is greater than the previous oscillator (oscillator > oscillator ) and,
- If the current ergonic is greater than the previous signal (ergonic > signal) and,
- If the current volume is greater than the average volume (volume > averageVolume) and,
- If the current candle closing price is greater than the opening price (close > open)
If all the above conditions are fullfilled, the long input signal is issued with "Buy" label.
Calculation for short signal;
- If the ergodic curve cross down the zero line (ergodic < 0 AND ergodic > 0) and,
- If the current oscillator is smaller than the previous oscillator (oscillator < oscillator ) and,
- If the current ergonic is smaller than the previous signal (ergonic < signal) and,
- If the current volume is greater than the average volume (volume > averageVolume) and,
- If the current candle closing price is smaller than the opening price (close < open)
If all the above conditions are fullfilled, the short input signal is issued with "Sell" label.
Indicator
TSI Market Timer + Volatility MeterThis is the TSI Market Timer. It is years in the making and it is comprised of four indicators in one. The stock (or source) is run through an indicator called the True Strength Indicator with settings(5,15) , then the TSI is run on both the Index(SPY) by default and what I call a Trigger line which is basically the TSI applied to the DXY (US Dollar Index).
Midline Volatility Indicator:
Lastly, we have a volatility indicator on the midline. The colors of the midline indicate levels of volatility. For the lowest volatility in the last 100 days, the dot turns dark blue. For the lowest volatility in 30 days, the dot turns aqua. For regular volatility, it remains orange. And last, for higher volatility of the last 100 days, it turns red. These are more or less arbitrary but they do come in handy.
Settings for Green/Red Shading:
Next on the indicator are the settings. You can toggle a color change between the stock/source and the index(spy). If the stock/source is greater than the index, it will color the area in between a green and if it is below the index, it will be red.
There is also a toggle for the stock/source and the trigger/DXY. This will also show green when the stock is above the trigger and red if it is below the trigger.
By turning on both of these, you get light green and dark green areas as well as red and darker red areas. The lighter green represent when the stock is above both the index and the trigger and conversely for the red areas.
Settings for vertical line crossings:
When the stock crosses the trigger/dxy line, it shows a green vertical line signal. When the stock crosses below the trigger/dxy, a red vertical line is shown.
You can turn these off by toggling them in the settings.
Stacked Condition:
Lastly, we have a "stacked condition" which shows up as a white triangle at the bottom when the condition of the stock being above the index and the trigger below the zero line.
New Highs:
If you see the stock line turn lime green, this indicates a new high was reached for the last 255 days/periods. This is like a new 52 week high signal.
Note:
This indicator is made mostly for the stock market. It may work ok during the week for crypto but using the trigger/dxy and index lines on the weekends doesn't work too well as they will be flat.
Also note that this indicator is not a recommendation to buy or sell any stock/instrument. It is only a study of market conditions. Any analysis should be followed up with volume analysis or other confirming indicators.
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