Wyckoff Price-Volume Anomaly Detector

📌 Wyckoff Price-Volume Anomaly Detector

🔍 Overview:
The Wyckoff Price-Volume Anomaly Detector is a powerful tool that identifies abnormal price-volume relationships based on Wyckoff Volume Theory. It highlights key market behaviors such as absorption, effortless moves, breakouts, and low-interest zones, helping traders anticipate institutional activity and market turning points.

📊 Key Features:
✅ Detects four major price-volume abnormalities:

🔴 Absorption (High Volume, Small Price Move) → Indicates strong hands absorbing supply/demand, signaling potential reversals.
🟢 Effortless Move (Low Volume, Large Price Move) → Price moves easily due to weak resistance or lack of opposing orders.
🟡 Breakout (High Volume, Large Price Move) → Confirms strong momentum when price breaks a key level with volume.
🔵 No Interest (Low Volume, Small Price Move) → Indicates a lack of participation, often seen in sideways markets.
✅ Automatic breakout filtering

Differentiates bullish vs. bearish breakouts based on support/resistance levels.
Uses customizable lookback periods to detect meaningful structural breakouts.
✅ Customizable settings

Toggle signals ON/OFF to reduce chart clutter.
Adjustable volume & range sensitivity thresholds to fine-tune detection.
✅ Clear chart labels for quick decision-making.

⚙️ How It Works:
Calculates average volume and price range over a user-defined period.
Compares the current bar's volume and range against these averages.
Identifies key market behaviors and plots labels accordingly.
Filters breakouts to ensure price exceeds significant support/resistance levels before confirming.

📌 Best Used For:
Spotting institutional accumulation & distribution zones.
Filtering real vs. fake breakouts based on price structure.
Confirming trend strength or potential reversals.
Identifying periods of low liquidity & consolidation.
📈 Use this script to enhance your Wyckoff-based trading strategy and gain a deeper understanding of market dynamics!

🚀 Customization Tips:
Increase volMultiplier to filter out weak volume signals.
Lower rangeMultiplier to detect smaller price movements.
Increase lookbackSR for stronger support/resistance breakout detection.

⚠️ Disclaimer:
This script is for educational and informational purposes only. It does not constitute financial advice or a recommendation to buy or sell any security, cryptocurrency, or asset. Trading involves risk, and past performance is not indicative of future results. Always conduct your own research and consult with a professional before making any financial decisions. The author is not responsible for any trading losses incurred using this indicator.