RVM VCP LowCheat - LowRiskEntry

avant-hier

Prerequisite :
User will need to know the concepts of VCP set up.
User needs to understand the MAs and EMAs
User needs to understand Basics of Candle sticks OHLC
User needs to understand how Volume acts in Market.
Swing trade style are the primary investment Strategy of the user.

RVM VCP Low Cheat - Input Guide
This indicator identifies high-probability, low-risk entry points by detecting "Long Lower Support Wick Candle" (LLS) and triggering a buy signal when price decisively breaks above that reversal candle.

How to use:
Yellow Triangle: Indicates an "LLS Detection"—this is an alert that a low-risk support level has been found.
Green "B" Flag: This is your execution signal. It triggers when price closes above the high of a recent Yellow Triangle candle, confirming that the "cheat" entry is in play.
Now The probably of upside is very high from here. The user will need to Manage risk based on their tactic.
Example Risk levels: exiting Below MA if price reverse, Or keeping day low as exit or keeping Ticker ADR% as risk level. there are various ways to manage it. This is purely dependent on users appetite towards risk reward.

Benefits :

1. If you are having basic account in Trading view you have at least 4 MAs to configure. You can switch between MAs or EMAs. I have defaulted them which works really well. But feel free to tweak to your needs.
   
2. Most Indicators in Market prints Buy signal after its too late or after the move is over or candle is closed (after 10% up). The biggest advantace of this indicator is you don't wait for candle close. It's called low cheat because we enter on low risk level.
   If you have decently trending watchlist (Minervini Style or Qullamaggie) and you can scroll through your WL at 9.45am EST (for 15min orb) and you will see the buy signal. if you have premium account and live data you should see buy signal immediately after open and price breaks above LLS candle.
   
3. There is a dashboard Table which has useful information. If you do not want it you can disable it. It show if there is any active LLS, any active buy signal, how many down days in the recent past etc.
   

Example set ups:
MVST from Dec 2024 to May 2025
https://www.tradingview.com/x/kWfAJ4tT/]

Technical Information For users:
Note these values are set after quite some work. You can tweak around if you want. I have provided that feature to make the user experiment it.

1. Signal Detection Logic
Volume Threshold: Controls how "quiet" the volume must be compared to its 20-day average. A value of 0.7 means the candle must have 30% less volume than average. Lower values make the indicator more selective for "VCP-style" quiet volume.
Lookback Days (Down Count): The number of recent days checked for bearish activity. This helps identify periods of healthy consolidation before the "cheat" entry.
Lower Shadow Threshold %: Defines how much of the candle must be a "wick" (tail). A value of 55% means more than half the candle's range must be a lower shadow, indicating strong intra-day rejection of lower prices.
Body Size Threshold: Controls the "tightness" of the candle body. Lower values (e.g., 1.0) require extremely tight price action, while higher values allow for slightly more volatility.

2. Moving Averages (Grouped Settings)
The indicator tracks 4 distinct lines to find support. For each line, you can customize:

Length: The lookback period (e.g., 9, 10, 21, 50, 200).
Type: Toggle between SMA (Simple) for traditional support levels and EMA (Exponential) for faster-reacting trend following.
Note: LLS signals are triggered when price interacts with these specific levels.

3. Buy Signal Visuals
Shape: Choose your preferred visual marker (Default: Label Up for the flag style).
Color: Custom color for the buy signal (Optimized for a professional Forest Green).
Size: Set to Small by default to keep your chart clean and professional.

4. Dashboard Table (Bottom Left)
Provides real-time stats including the current Volume Ratio, Shadow %, and a count of Active LLS events currently being tracked by the algorithm.

Note user discretion is advised: This indicator is only for information purpose only for the user and not a buy advise from indicators owner .

avant-hier

Notes de version

Updated

avant-hier

Notes de version

Update the table with key Swing data Metrics.
We can now see the RS rating, Sector RS rating, Market cap and Dollar volume etc. You can also untick any data you don't wish to see.
The table is customizable. Based on your chart setting you can make sure to have the background etc to be able to see the required info. :)

avant-hier

Notes de version

Minor documentation update