OPEN-SOURCE SCRIPT
Energy Script
Energy Script Indicator
Description of Indicator
The Energy Script Indicator calculates the market's energy using the formula `Energy = Price * sqrt(Volume)`; providing insight into market activity by combining price movement and volume. This indicator is designed to help traders identify potential reversals and continuation points based on energy levels.
Features
Energy Calculation: Utilizes price and volume to compute market energy, highlighting significant activity changes.
Smoothing Options: Two customizable smoothing periods to filter out noise and highlight trends.
Threshold Alert: Set a threshold value to receive alerts when energy exceeds predefined levels, aiding in quick decision-making.
Customizable Colors: Choose colors for different plot lines to suit your charting preferences.
How to Use:
1. Smoothing Periods: Adjust `Smoothing 1` and `Smoothing 2` to control the sensitivity of the energy plots.
2. Threshold: Set the `Threshold` value to identify significant energy levels. Enable or disable threshold plotting as needed.
3. Volume Integration: Toggle `Use Volume` to include or exclude volume in energy calculations.
4. Alerts: Receive alerts when energy levels cross the defined threshold, signaling potential market movements.
This indicator is a powerful tool for analyzing market dynamics by combining price action with volume, providing a deeper understanding of market energy and potential trading opportunities.
Description of Indicator
The Energy Script Indicator calculates the market's energy using the formula `Energy = Price * sqrt(Volume)`; providing insight into market activity by combining price movement and volume. This indicator is designed to help traders identify potential reversals and continuation points based on energy levels.
Features
Energy Calculation: Utilizes price and volume to compute market energy, highlighting significant activity changes.
Smoothing Options: Two customizable smoothing periods to filter out noise and highlight trends.
Threshold Alert: Set a threshold value to receive alerts when energy exceeds predefined levels, aiding in quick decision-making.
Customizable Colors: Choose colors for different plot lines to suit your charting preferences.
How to Use:
1. Smoothing Periods: Adjust `Smoothing 1` and `Smoothing 2` to control the sensitivity of the energy plots.
2. Threshold: Set the `Threshold` value to identify significant energy levels. Enable or disable threshold plotting as needed.
3. Volume Integration: Toggle `Use Volume` to include or exclude volume in energy calculations.
4. Alerts: Receive alerts when energy levels cross the defined threshold, signaling potential market movements.
This indicator is a powerful tool for analyzing market dynamics by combining price action with volume, providing a deeper understanding of market energy and potential trading opportunities.
開源腳本
本著TradingView的真正精神，此腳本的創建者將其開源，以便交易者可以查看和驗證其功能。向作者致敬！雖然您可以免費使用它，但請記住，重新發佈程式碼必須遵守我們的網站規則。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
開源腳本
本著TradingView的真正精神，此腳本的創建者將其開源，以便交易者可以查看和驗證其功能。向作者致敬！雖然您可以免費使用它，但請記住，重新發佈程式碼必須遵守我們的網站規則。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。