sonnyparlin

Price Action Signals V2

sonnyparlin Premium Mis à jour   
Indicator that shows buy/sell signals based on price action and volume as it relates to a double EMA . If the candle is above the double EMA , we look for candles with long wicks on the top indicating selling pressure. If the candle is below the double EMA , we look for candles with a long bottom wick indicating buying pressure. The user defined parameters are the length of the double EMA and the length of the volume moving average. Lower timeframes such as 5 minutes and lower are better off using lower lengths while higher timeframes should user higher lengths. Your mileage will vary.

Note, while this indicator can signal the beginning of long term trends, it will also signal minor retracements. Do not blindly buy or sell based on a signal appearing, pay attention to where the candle is in the overall trend and wait for confirmation to avoid losses.
Notes de version: Chart update to show intraday.
Notes de version: Changed default setting for showing the Double EMA and commented out plots that aren't needed.
Notes de version: Made some updates for more granular control. There's now a spread you can choose for candles to determine what makes a candle large, an irregular body setting to determine what you consider to be an irregular candle spread on large volume. I also changed the default set up for intraday trading.

- Fixed bug with plot showing at bottom of the chart, which was squishing the entire chart.
Notes de version: Added notes for the colors of arrows. Red and green candles denote strong market movement, purple arrows denote weakness and possible reversals.
Notes de version: Removed candle color condition for more accurate results.
Notes de version: Added check to make sure that we don't put two arrows on one candle.
Notes de version: Finally got rid of the moving average separator. Purple arrows now mean small spread OR low volume with strong price action.
Notes de version: Added the ability to remove irregular arrows from display to keep indicator more clean. Also changed default settings.
Notes de version: Added high volume condition to irregular bodies.
Notes de version: Updated chart
Notes de version: Had to remove extra indicator for new chart

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Script open-source

Dans le véritable esprit de TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par le règlement. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.

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