Being a intraday and swing trader. There are levels that I find key for short to intermediate term price action that is quantifiable on every ticker.
Instead of spending the time after hours or early in the morning marking these levels up I decided to automate them all to save the time required to do it manually over and over again.
I also created a unique internals table to track market internals all in one place so on the same chart. This includes live updates during the session on the internals and trend Identification built into the internal readings based on Average closing, opening, high and low prices.
The levels this indicator provide are:
Average Daily Range High
Average Daily Expansion Range
Previous sessions s high and low price
Day Open
Opening Range
Monthly Anchored VWAP
2 multi-time frame EMA's
These are levels I expect price to be reactive off of if and when they are offered by the market and I find them incredibly important and useful when navigating the session.
Additional Configurations:
You can hide any and all levels by reducing the transparency.
You can change all levels colors to fit your layout.
you can change all levels line size and style
You can change the Time frame and moving period to the EMA's
You can change the Time frame for the opening range as well.
The Internals reads live updates on:
NYSE Advancers & Decliners
Nasdaq Advancers & Decliners
Nasdaq total VOLD
NYSE total VOLD
NYSE Tick
NAS Tick
I find these internal readings incredibly important navigating the market day to day as they give a more in-depth insight of how healthy the market current is.
Adv/Dec can quickly tell me how much participation is activity occurring in the market to validate a rally or lower price.
VOLD can quickly tell me how much positive or negative volume is activity in the market to support a rally or lower price.
Tick can quickly tell me how many stocks are trading higher or lower at that moment in the market to support the case for a break or reversal to potentially take place.
How to Understand the trend:
🐻 = Leaning Bearish Conditions
🐻🐻 = Bearish Conditions
🐻🐻🐻 = Trending Bearish Conditions
🐂 = Leaning Bullish Conditions
🐂🐂 = Bullish Conditions
🐂🐂🐂 = Trending Bullish Conditions
💤 = Neutral Conditions
⚠️ = Tick is at extremes, meaning an intraday reversal likely
⚠️⚠️ = Tick is rare extremes, meaning an intraday reversal is most probable.
Again, These trend readings are based on years of historical data around Average closing, opening, high and low prices for VOLD and A/D. Its important to understand that though these internal readings can help make better trades knowing the markets trend. These conditions can change at any point in time given the nature of the market.