PROTECTED SOURCE SCRIPT
Weighted Volumetric Pressure
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This indicator measures the balance of buying and selling pressure in the market by analyzing price action, trading activity, and market volatility. It dynamically adjusts to changing conditions, highlighting areas of potential strength or weakness in price movements while remaining sensitive to shifts in market momentum and participation.
Please change the "Pressure Length" to your desired length. Different input lengths work better on certain timeframes and securities.
How to use:
When the blue line (Weighted Pressure) reaches the bottom line (Bottom Line), the indicator indicates that the security is oversold or at a bottom.
When the blue line (Weighted Volumetric Pressure) reaches the top line (Top Line), the indicator indicates that the security is overbought or at a high.
Please change the "Pressure Length" to your desired length. Different input lengths work better on certain timeframes and securities.
How to use:
When the blue line (Weighted Pressure) reaches the bottom line (Bottom Line), the indicator indicates that the security is oversold or at a bottom.
When the blue line (Weighted Volumetric Pressure) reaches the top line (Top Line), the indicator indicates that the security is overbought or at a high.
Notes de version
This indicator measures the balance of buying and selling pressure in the market by analyzing price action, trading activity, and market volatility. It dynamically adjusts to changing conditions, highlighting areas of potential strength or weakness in price movements while remaining sensitive to shifts in market momentum and participation.Please change the "Pressure Length" to your desired length. Different input lengths work better on certain timeframes and securities.
How to use:
When the blue line (Weighted Pressure) reaches the bottom line (Bottom Line), the indicator indicates that the security is oversold or at a bottom.
When the blue line (Weighted Volumetric Pressure) reaches the top line (Top Line), the indicator indicates that the security is overbought or at a high.
Notes de version
Added Green Triangles indicating a low or bottom has been found. These can be toggled on and off. These should help users read the chart properly.Also, a different version is currently being developed to include AI to help predict where the blue line (Weighted Pressure) will bottom out at on the red line (Bottom Line).
Notes de version
Removed the top line (Top Line) and added the ability for users to adjust the bottom line's weight (Bottom Line Weight) in the indicator settings.The ability to adjust the bottom line's weight (Bottom Line Weight) will allow users to help mitigate excessive blue line (Weighted Pressure) drawdowns below the bottom line (Bottom Line) as seen mostly on the 1m timeframe.
Notes de version
Changed the way the bottom line weight (Bottom Line Weight) works.The Bottom Line Weight is used to divide 1000. So a previous value of 5 can be achieved with the Bottom Line Weight of 200. A previous value of 4 can be achieved with the value of 250.
Now that you understand how it works, you can achieve more precise measurements of lows.
Notes de version
Added two adjustable variables:Pressure Height - more easily precisely adjusts the blue lines (Weighted Pressure) height (default 0).
Bottom Line Length - adjusts the bottom lines (Bottom Line) SMA length (default 14).
Notes de version
Added a volatility filter (Volatility Filter) setting that is a weight that helps filter out arrows that are apparent in a certain volatility.Added a VIX weighted filter (Vix Weighted Filter) setting that can be adjusted in order to change the prevalence of the new arrow (Purple Arrow)
Added a new arrow (Purple Arrow) that uses the VIX weighted filter (Vix Weighted Filter) to determine the arrows.
Script protégé
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