PSP with Color ThemesPSP (Price State Parity) Indicator
This indicator identifies Price State Parity between the current trading instrument and a reference asset. It visually highlights candles where price movements show significant correlation patterns.
Key Features:
Dual Mode Operation:
Divergence Mode (Default): Highlights candles where current and reference assets move in opposite directions
Convergence Mode (Inverse): Highlights candles where both assets move in the same direction
Customizable Visualization:
Separate color selection for bullish and bearish PSP candles
Adjustable transparency for optimal chart visibility
Non-PSP candles remain unchanged for clear price action reading
Flexible Reference Asset:
Compare against any TradingView symbol (crypto, forex, stocks, indices)
Default: ETH/USDT for crypto correlation analysis
Use Cases:
Crypto Correlation Trading: Spot divergence/convergence between crypto pairs
Inter-Market Analysis: Compare stocks with sector ETFs or indices
Forex Pairs Correlation: Analyze currency pair relationships
Hedging Opportunities: Identify when correlated assets decouple
How to Use:
Select your reference symbol in settings
Choose between Divergence or Convergence mode
Customize colors to match your trading style
Watch for highlighted candles indicating PSP signals
Indicator Logic:
Bullish PSP: Current candle bullish + Reference candle bearish (or same in inverse mode)
Bearish PSP: Current candle bearish + Reference candle bullish (or same in inverse mode)
Indicateur Pine Script®






















