OPEN-SOURCE SCRIPT
TechniTrend: Volume and Momentum Analysis (Weighted)
Description:
The TechniTrend: Volume and Momentum Analysis indicator combines volume analysis with multiple momentum indicators to provide a holistic view of market conditions. By integrating Weighted Relative Strength Index (RSI), Rate of Change (ROC), and Stochastic Oscillator (%K and %D), this indicator offers a comprehensive, blended signal that responds to both price momentum and volume trends. Ideal for identifying potential reversal zones, overbought/oversold conditions, and divergence patterns.
Features:
Volume and Momentum Analysis:
The core of this indicator is a "Combined Analysis Line" that integrates various momentum indicators, each weighted according to user-defined preferences. This line allows for dynamic responsiveness based on selected weightings for RSI, ROC, and Stochastic, making it highly customizable.
High Volume Area Highlight:
Periods of high trading volume (above the threshold defined by Volume Threshold Factor) are highlighted on the chart's background. This feature aids in identifying volume-driven price actions, especially when combined with overbought/oversold signals from the Combined Analysis Line.
Divergence Detection System:
Regular bullish and bearish divergence patterns are automatically detected and marked on the chart. The indicator uses a pivot-based approach with user-adjustable lookback periods to identify divergence patterns, helping traders spot potential reversal points.
Overbought/Oversold Zones:
The indicator displays overbought and oversold zones with gradient fills based on user-defined thresholds, enhancing visibility and helping to gauge market momentum.
Alert System:
Built-in alerts notify the trader when a regular bullish or bearish divergence is detected. This feature is especially useful for monitoring the market passively and receiving timely alerts for potential trend changes.
Settings:
Volume MA Length: Defines the length of the moving average used to smooth out volume data.
Momentum Length: Length for calculating the momentum indicators (e.g., RSI).
Volume Threshold Factor: Multiplier for determining high-volume levels, setting the bar for significant volume.
Weight Parameters: Assign weight percentages to each momentum indicator for precise calibration of the Combined Analysis Line.
Overbought/Oversold Thresholds: Adjusts the levels at which overbought and oversold conditions are displayed, providing custom sensitivity to market extremes.
Divergence Settings: Adjustable lookback periods for detecting divergence patterns, along with upper and lower ranges, which fine-tune the search for divergence points.
This indicator is highly configurable and offers a nuanced view of market conditions by combining volume and momentum signals. Designed to assist in identifying potential entry and exit points, the TechniTrend: Volume and Momentum Analysis is a powerful tool for both short-term and long-term traders.
The TechniTrend: Volume and Momentum Analysis indicator combines volume analysis with multiple momentum indicators to provide a holistic view of market conditions. By integrating Weighted Relative Strength Index (RSI), Rate of Change (ROC), and Stochastic Oscillator (%K and %D), this indicator offers a comprehensive, blended signal that responds to both price momentum and volume trends. Ideal for identifying potential reversal zones, overbought/oversold conditions, and divergence patterns.
Features:
Volume and Momentum Analysis:
The core of this indicator is a "Combined Analysis Line" that integrates various momentum indicators, each weighted according to user-defined preferences. This line allows for dynamic responsiveness based on selected weightings for RSI, ROC, and Stochastic, making it highly customizable.
High Volume Area Highlight:
Periods of high trading volume (above the threshold defined by Volume Threshold Factor) are highlighted on the chart's background. This feature aids in identifying volume-driven price actions, especially when combined with overbought/oversold signals from the Combined Analysis Line.
Divergence Detection System:
Regular bullish and bearish divergence patterns are automatically detected and marked on the chart. The indicator uses a pivot-based approach with user-adjustable lookback periods to identify divergence patterns, helping traders spot potential reversal points.
Overbought/Oversold Zones:
The indicator displays overbought and oversold zones with gradient fills based on user-defined thresholds, enhancing visibility and helping to gauge market momentum.
Alert System:
Built-in alerts notify the trader when a regular bullish or bearish divergence is detected. This feature is especially useful for monitoring the market passively and receiving timely alerts for potential trend changes.
Settings:
Volume MA Length: Defines the length of the moving average used to smooth out volume data.
Momentum Length: Length for calculating the momentum indicators (e.g., RSI).
Volume Threshold Factor: Multiplier for determining high-volume levels, setting the bar for significant volume.
Weight Parameters: Assign weight percentages to each momentum indicator for precise calibration of the Combined Analysis Line.
Overbought/Oversold Thresholds: Adjusts the levels at which overbought and oversold conditions are displayed, providing custom sensitivity to market extremes.
Divergence Settings: Adjustable lookback periods for detecting divergence patterns, along with upper and lower ranges, which fine-tune the search for divergence points.
This indicator is highly configurable and offers a nuanced view of market conditions by combining volume and momentum signals. Designed to assist in identifying potential entry and exit points, the TechniTrend: Volume and Momentum Analysis is a powerful tool for both short-term and long-term traders.
Script open-source
Dans le plus pur esprit 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 nos Règles. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.
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