Ultimate Scalping Tool[BullByte]Overview
The Ultimate Scalping Tool is an open-source TradingView indicator built for scalpers and short-term traders released under the Mozilla Public License 2.0. It uses a custom Quantum Flux Candle (QFC) oscillator to combine multiple market forces into one visual signal. In plain terms, the script reads momentum, trend strength, volatility, and volume together and plots a special “candlestick” each bar (the QFC) that reflects the overall market bias. This unified view makes it easier to spot entries and exits: the tool labels signals as Strong Buy/Sell, Pullback (a brief retracement in a trend), Early Entry, or Exit Warning . It also provides color-coded alerts and a small dashboard of metrics. In practice, traders see green/red oscillator bars and symbols on the chart when conditions align, helping them scalp or trend-follow without reading multiple separate indicators.
Core Components
Quantum Flux Candle (QFC) Construction
The QFC is the heart of the indicator. Rather than using raw price, it creates a candlestick-like bar from the underlying oscillator values. Each QFC bar has an “open,” “high/low,” and “close” derived from calculated momentum and volatility inputs for that period . In effect, this turns the oscillator into intuitive candle patterns so traders can recognize momentum shifts visually. (For comparison, note that Heikin-Ashi candles “have a smoother look because take an average of the movement”. The QFC instead represents exact oscillator readings, so it reflects true momentum changes without hiding price action.) Colors of QFC bars change dynamically (e.g. green for bullish momentum, red for bearish) to highlight shifts. This is the first open-source QFC oscillator that dynamically weights four non-correlated indicators with moving thresholds, which makes it a unique indicator on its own.
Oscillator Normalization & Adaptive Weights
The script normalizes its oscillator to a fixed scale (for example, a 0–100 range much like the RSI) so that various inputs can be compared fairly. It then applies adaptive weighting: the relative influence of trend, momentum, volatility or volume signals is automatically adjusted based on current market conditions. For instance, in very volatile markets the script might weight volatility more heavily, or in a strong trend it might give extra weight to trend direction. Normalizing data and adjusting weights helps keep the QFC sensitive but stable (normalization ensures all inputs fit a common scale).
Trend/Momentum/Volume/Volatility Fusion
Unlike a typical single-factor oscillator, the QFC oscillator fuses four aspects at once. It may compute, for example, a trend indicator (such as an ADX or moving average slope), a momentum measure (like RSI or Rate-of-Change), a volume-based pressure (similar to MFI/OBV), and a volatility measure (like ATR) . These different values are combined into one composite oscillator. This “multi-dimensional” approach follows best practices of using non-correlated indicators (trend, momentum, volume, volatility) for confirmation. By encoding all these signals in one line, a high QFC reading means that trend, momentum, and volume are all aligned, whereas a neutral reading might mean mixed conditions. This gives traders a comprehensive picture of market strength.
Signal Classification
The script interprets the QFC oscillator to label trades. For example:
• Strong Buy/Sell : Triggered when the oscillator crosses a high-confidence threshold (e.g. breaks clearly above zero with strong slope), indicating a well-confirmed move. This is like seeing a big green/red QFC candle aligned with the trend.
• Pullbacks : Identified when the trend is up but momentum dips briefly. A Pullback Buy appears if the overall trend is bullish but the oscillator has a short retracement – a typical buying opportunity in an uptrend. (A pullback is “a brief decline or pause in a generally upward price trend”.)
• Early Buy/Sell : Marks an initial swing in the oscillator suggesting a possible new trend, before it is fully confirmed. It’s a hint of momentum building (an early-warning signal), not as strong as the confirmed “Strong” signal.
• Exit Warnings : Issued when momentum peaks or reverses. For instance, if the QFC bars reach a high and start turning red/green opposite, the indicator warns that the move may be ending. In other words, a Momentum Peak is the point of maximum strength after which weakness may follow.
These categories correspond to typical trading concepts: Pullback (temporary reversal in an uptrend), Early Buy (an initial bullish cross), Strong Buy (confirmed bullish momentum), and Momentum Peak (peak oscillator value suggesting exhaustion).
Filters (DI Reversal, Dynamic Thresholds, HTF EMA/ADX)
Extra filters help avoid bad trades. A DI Reversal filter uses the +DI/–DI lines (from the ADX system) to require that the trend direction confirms the signal . For example, it might ignore a buy signal if the +DI is still below –DI. Dynamic Thresholds adjust signal levels on-the-fly: rather than fixed “overbought” lines, they move with volatility so signals happen under appropriate market stress. An optional High-Timeframe EMA or ADX filter adds a check against a larger timeframe trend: for instance, only taking a trade if price is above the weekly EMA or if weekly ADX shows a strong trend. (Notably, the ADX is “a technical indicator used by traders to determine the strength of a price trend”, so requiring a high-timeframe ADX avoids trading against the bigger trend.)
Dashboard Metrics & Color Logic
The Dashboard in the Ultimate Scalping Tool (UST) serves as a centralized information hub, providing traders with real-time insights into market conditions, trend strength, momentum, volume pressure, and trade signals. It is highly customizable, allowing users to adjust its appearance and content based on their preferences.
1. Dashboard Layout & Customization
Short vs. Extended Mode : Users can toggle between a compact view (9 rows) and an extended view (13 rows) via the `Short Dashboard` input.
Text Size Options : The dashboard supports three text sizes— Tiny, Small, and Normal —adjustable via the `Dashboard Text Size` input.
Positioning : The dashboard is positioned in the top-right corner by default but can be moved if modified in the script.
2. Key Metrics Displayed
The dashboard presents critical trading metrics in a structured table format:
Trend (TF) : Indicates the current trend direction (Strong Bullish, Moderate Bullish, Sideways, Moderate Bearish, Strong Bearish) based on normalized trend strength (normTrend) .
Momentum (TF) : Displays momentum status (Strong Bullish/Bearish or Neutral) derived from the oscillator's position relative to dynamic thresholds.
Volume (CMF) : Shows buying/selling pressure levels (Very High Buying, High Selling, Neutral, etc.) based on the Chaikin Money Flow (CMF) indicator.
Basic & Advanced Signals:
Basic Signal : Provides simple trade signals (Strong Buy, Strong Sell, Pullback Buy, Pullback Sell, No Trade).
Advanced Signal : Offers nuanced signals (Early Buy/Sell, Momentum Peak, Weakening Momentum, etc.) with color-coded alerts.
RSI : Displays the Relative Strength Index (RSI) value, colored based on overbought (>70), oversold (<30), or neutral conditions.
HTF Filter : Indicates the higher timeframe trend status (Bullish, Bearish, Neutral) when using the Leading HTF Filter.
VWAP : Shows the V olume-Weighted Average Price and whether the current price is above (bullish) or below (bearish) it.
ADX : Displays the Average Directional Index (ADX) value, with color highlighting whether it is rising (green) or falling (red).
Market Mode : Shows the selected market type (Crypto, Stocks, Options, Forex, Custom).
Regime : Indicates volatility conditions (High, Low, Moderate) based on the **ATR ratio**.
3. Filters Status Panel
A secondary panel displays the status of active filters, helping traders quickly assess which conditions are influencing signals:
- DI Reversal Filter: On/Off (confirms reversals before generating signals).
- Dynamic Thresholds: On/Off (adjusts buy/sell thresholds based on volatility).
- Adaptive Weighting: On/Off (auto-adjusts oscillator weights for trend/momentum/volatility).
- Early Signal: On/Off (enables early momentum-based signals).
- Leading HTF Filter: On/Off (applies higher timeframe trend confirmation).
4. Visual Enhancements
Color-Coded Cells : Each metric is color-coded (green for bullish, red for bearish, gray for neutral) for quick interpretation.
Dynamic Background : The dashboard background adapts to market conditions (bullish/bearish/neutral) based on ADX and DI trends.
Customizable Reference Lines : Users can enable/disable fixed reference lines for the oscillator.
How It(QFC) Differs from Traditional Indicators
Quantum Flux Candle (QFC) Versus Heikin-Ashi
Heikin-Ashi candles smooth price by averaging (HA’s open/close use averages) so they show trend clearly but hide true price (the current HA bar’s close is not the real price). QFC candles are different: they are oscillator values, not price averages . A Heikin-Ashi chart “has a smoother look because it is essentially taking an average of the movement”, which can cause lag. The QFC instead shows the raw combined momentum each bar, allowing faster recognition of shifts. In short, HA is a smoothed price chart; QFC is a momentum-based chart.
Versus Standard Oscillators
Common oscillators like RSI or MACD use fixed formulas on price (or price+volume). For example, RSI “compares gains and losses and normalizes this value on a scale from 0 to 100”, reflecting pure price momentum. MFI is similar but adds volume. These indicators each show one dimension: momentum or volume. The Ultimate Scalping Tool’s QFC goes further by integrating trend strength and volatility too. In practice, this means a move that looks strong on RSI might be downplayed by low volume or weak trend in QFC. As one source notes, using multiple non-correlated indicators (trend, momentum, volume, volatility) provides a more complete market picture. The QFC’s multi-factor fusion is unique – it is effectively a multi-dimensional oscillator rather than a traditional single-input one.
Signal Style
Traditional oscillators often use crossovers (RSI crossing 50) or fixed zones (MACD above zero) for signals. The Ultimate Scalping Tool’s signals are custom-classified: it explicitly labels pullbacks, early entries, and strong moves. These terms go beyond a typical indicator’s generic “buy”/“sell.” In other words, it packages a strategy around the oscillator, which traders can backtest or observe without reading code.
Key Term Definitions
• Pullback : A short-term dip or consolidation in an uptrend. In this script, a Pullback Buy appears when price is generally rising but shows a brief retracement. (As defined by Investopedia, a pullback is “a brief decline or pause in a generally upward price trend”.)
• Early Buy/Sell : An initial or tentative entry signal. It means the oscillator first starts turning positive (or negative) before a full trend has developed. It’s an early indication that a trend might be starting.
• Strong Buy/Sell : A confident entry signal when multiple conditions align. This label is used when momentum is already strong and confirmed by trend/volume filters, offering a higher-probability trade.
• Momentum Peak : The point where bullish (or bearish) momentum reaches its maximum before weakening. When the oscillator value stops rising (or falling) and begins to reverse, the script flags it as a peak – signaling that the current move could be overextended.
What is the Flux MA?
The Flux MA (Moving Average) is an Exponential Moving Average (EMA) applied to a normalized oscillator, referred to as FM . Its purpose is to smooth out the fluctuations of the oscillator, providing a clearer picture of the underlying trend direction and strength. Think of it as a dynamic baseline that the oscillator moves above or below, helping you determine whether the market is trending bullish or bearish.
How it’s calculated (Flux MA):
1.The oscillator is normalized (scaled to a range, typically between 0 and 1, using a default scale factor of 100.0).
2.An EMA is applied to this normalized value (FM) over a user-defined period (default is 10 periods).
3.The result is rescaled back to the oscillator’s original range for plotting.
Why it matters : The Flux MA acts like a support or resistance level for the oscillator, making it easier to spot trend shifts.
Color of the Flux Candle
The Quantum Flux Candle visualizes the normalized oscillator (FM) as candlesticks, with colors that indicate specific market conditions based on the relationship between the FM and the Flux MA. Here’s what each color means:
• Green : The FM is above the Flux MA, signaling bullish momentum. This suggests the market is trending upward.
• Red : The FM is below the Flux MA, signaling bearish momentum. This suggests the market is trending downward.
• Yellow : Indicates strong buy conditions (e.g., a "Strong Buy" signal combined with a positive trend). This is a high-confidence signal to go long.
• Purple : Indicates strong sell conditions (e.g., a "Strong Sell" signal combined with a negative trend). This is a high-confidence signal to go short.
The candle mode shows the oscillator’s open, high, low, and close values for each period, similar to price candlesticks, but it’s the color that provides the quick visual cue for trading decisions.
How to Trade the Flux MA with Respect to the Candle
Trading with the Flux MA and Quantum Flux Candle involves using the MA as a trend indicator and the candle colors as entry and exit signals. Here’s a step-by-step guide:
1. Identify the Trend Direction
• Bullish Trend : The Flux Candle is green and positioned above the Flux MA. This indicates upward momentum.
• Bearish Trend : The Flux Candle is red and positioned below the Flux MA. This indicates downward momentum.
The Flux MA serves as the reference line—candles above it suggest buying pressure, while candles below it suggest selling pressure.
2. Interpret Candle Colors for Trade Signals
• Green Candle : General bullish momentum. Consider entering or holding a long position.
• Red Candle : General bearish momentum. Consider entering or holding a short position.
• Yellow Candle : A strong buy signal. This is an ideal time to enter a long trade.
• Purple Candle : A strong sell signal. This is an ideal time to enter a short trade.
3. Enter Trades Based on Crossovers and Colors
• Long Entry : Enter a buy position when the Flux Candle turns green and crosses above the Flux MA. If it turns yellow, this is an even stronger signal to go long.
• Short Entry : Enter a sell position when the Flux Candle turns red and crosses below the Flux MA. If it turns purple, this is an even stronger signal to go short.
4. Exit Trades
• Exit Long : Close your buy position when the Flux Candle turns red or crosses below the Flux MA, indicating the bullish trend may be reversing.
• Exit Short : Close your sell position when the Flux Candle turns green or crosses above the Flux MA, indicating the bearish trend may be reversing.
•You might also exit a long trade if the candle changes from yellow to green (weakening strong buy signal) or a short trade from purple to red (weakening strong sell signal).
5. Use Additional Confirmation
To avoid false signals, combine the Flux MA and candle signals with other indicators or dashboard metrics (e.g., trend strength, momentum, or volume pressure). For example:
•A yellow candle with a " Strong Bullish " trend and high buying volume is a robust long signal.
•A red candle with a " Moderate Bearish " trend and neutral momentum might need more confirmation before shorting.
Practical Example
Imagine you’re scalping a cryptocurrency:
• Long Trade : The Flux Candle turns yellow and is above the Flux MA, with the dashboard showing "Strong Buy" and high buying volume. You enter a long position. You exit when the candle turns red and dips below the Flux MA.
• Short Trade : The Flux Candle turns purple and crosses below the Flux MA, with a "Strong Sell" signal on the dashboard. You enter a short position. You exit when the candle turns green and crosses above the Flux MA.
Market Presets and Adaptation
This indicator is designed to work on any market with candlestick price data (stocks, crypto, forex, indices, etc.). To handle different behavior, it provides presets for major asset classes. Selecting a “Stocks,” “Crypto,” “Forex,” or “Options” preset automatically loads a set of parameter values optimized for that market . For example, a crypto preset might use a shorter lookback or higher sensitivity to account for crypto’s high volatility, while a stocks preset might use slightly longer smoothing since stocks often trend more slowly. In practice, this means the same core QFC logic applies across markets, but the thresholds and smoothing adjust so signals remain relevant for each asset type.
Usage Guidelines
• Recommended Timeframes : Optimized for 1 minute to 15 minute intraday charts. Can also be used on higher timeframes for short term swings.
• Market Types : Select “Crypto,” “Stocks,” “Forex,” or “Options” to auto tune periods, thresholds and weights. Use “Custom” to manually adjust all inputs.
• Interpreting Signals : Always confirm a signal by checking that trend, volume, and VWAP agree on the dashboard. A green “Strong Buy” arrow with green trend, green volume, and price > VWAP is highest probability.
• Adjusting Sensitivity : To reduce false signals in fast markets, enable DI Reversal Confirmation and Dynamic Thresholds. For more frequent entries in trending environments, enable Early Entry Trigger.
• Risk Management : This tool does not plot stop loss or take profit levels. Users should define their own risk parameters based on support/resistance or volatility bands.
Background Shading
To give you an at-a-glance sense of market regime without reading numbers, the indicator automatically tints the chart background in three modes—neutral, bullish and bearish—with two levels of intensity (light vs. dark):
Neutral (Gray)
When ADX is below 20 the market is considered “no trend” or too weak to trade. The background fills with a light gray (high transparency) so you know to sit on your hands.
Bullish (Green)
As soon as ADX rises above 20 and +DI exceeds –DI, the background turns a semi-transparent green, signaling an emerging uptrend. When ADX climbs above 30 (strong trend), the green becomes more opaque—reminding you that trend-following signals (Strong Buy, Pullback) carry extra weight.
Bearish (Red)
Similarly, if –DI exceeds +DI with ADX >20, you get a light red tint for a developing downtrend, and a darker, more solid red once ADX surpasses 30.
By dynamically varying both hue (green vs. red vs. gray) and opacity (light vs. dark), the background instantly communicates trend strength and direction—so you always know whether to favor breakout-style entries (in a strong trend) or stay flat during choppy, low-ADX conditions.
The setup shown in the above chart snapshot is BTCUSD 15 min chart : Binance for reference.
Disclaimer
No indicator guarantees profits. Backtest or paper trade this tool to understand its behavior in your market. Always use proper position sizing and stop loss orders.
Good luck!
- BullByte
Volumeoscillator
Aggressor Volume ImbalanceAggressor volume imbalance represents the ratio between market aggressor buy volume (market buy orders) and market aggressor sell volume (market sell orders). This ratio enables traders to evaluate the interest of market aggressors and whether aggressive market activity favours the price's direction.
Analysing aggressor volume is critical in understanding market sentiment and aids in identifying shifts in momentum and potential exhaustion points in the market. When the aggressor buy volume significantly exceeds the sell volume, it typically indicates strong buying interest, driving prices higher if the offer-side liquidity cannot contain it, and vice versa.
How it Works
The imbalance ratio is calculated as follows, according to the selected session timeframe (see settings):
imbalance := ((buyVolumeAccumulator - sellVolumeAccumulator)
/ (buyVolumeAccumulator + sellVolumeAccumulator)) * 100
Aggressive Volume Imbalance uses lower timeframe historical data to calculate Historical Aggressor Volume Imbalances, while live data is used for live aggressor volume imbalances.
How to Use It
You can set the indicator to use any historical data timeframe you prefer. However, it is highly recommended to use lower timeframes (e.g., 1 second), as the lower the timeframe, the more granular the data.
The indicator resets to 0% whenever a new session timeframe begins (e.g., a new day) and calculates new values for the rest of the session. This can be configured in the settings.
Volume Flow ImbalanceVolume Flow Imbalance (VFI) Indicator
The Volume Flow Imbalance (VFI) indicator is designed to provide traders with insights into the market's buying and selling pressure by calculating the imbalance between buy and sell volumes over a user-defined lookback period. This indicator is particularly useful for identifying potential pivot points and market sentiment shifts.
How to Use :
Setup Parameters :
Lookback Period: Set the number of bars over which the imbalance is calculated. Increasing this number provides a broader view of market trends.
Lower Timeframe Data: Optionally enable this feature to analyze volume data from lower timeframes, offering a more granified view of volume flows.
Interpreting the Indicator :
The VFI outputs a value that represents the net imbalance between buying and selling volumes. Positive values indicate a predominance of buying volume, suggesting bullish conditions, while negative values suggest bearish conditions with more selling volume.
The indicator also provides dynamic threshold lines based on the standard deviation of the calculated imbalances, helping to visually identify extreme conditions where reversals might occur.
Application :
Apply the VFI to any chart to assess the balance of trade volumes in real-time.
Use the indicator in conjunction with other technical analysis tools to confirm trends or potential reversals.
Tips :
Adjust the lookback period based on the volatility and trading volume of the asset to optimize performance.
The VFI is best used in liquid markets where volume data is a reliable indicator of market activity.
By providing a clear measure of how much buying and selling is occurring relative to the past, the VFI helps traders make informed decisions based on underlying market dynamics.
Time Relative Volume Oscillator | Flux Charts💎 GENERAL OVERVIEW
The relative volume indicator aims to improve upon the default existing relative volume indicator by comparing volumes between previous trading sessions rather than previous candles. As such, it works best on lower time frames as there is more data to compare with. The purpose of the indicator is to show how the current bar’s volume compares to the volume at the same time on previous trading days.
There exists a couple different modes and combinations that each provide a different perspective on the trading volume.
Oscillator mode
Oscillator mode starts with the same relative volume calculation, but adds two EMAs of different lengths that diverge and converge. Like the MACD, it plots the difference as a histogram. This functions as an easy way to view when relative volume is increasing or decreasing.
How to use:
The oscillator oscillates between -1 and 1. It moves along with volume direction, so this mode can be used to view the current volume direction in a lagging fashion. In oscillating markets, this indicator can give an idea of how buy/sell volume is moving and where it currently stands. Small arrows mark where reversals are predicted, when the histogram crosses over 0. The biggest pitfall of this mode is that, in a straight trending market, the two EMAs converge and it gives a false reversal signal.
Delta mode
Delta volume mode is a step up from the buy/sell volume mode. It separates both sides into the top and bottom, while also displaying the actual volume behind it in a semi transparent overlay. The best feature, however, is the delta oscillator. This oscillator fluctuates depending on how buy/sell volume is changing and plots bullish/bearish labels when the dominant side (bullish/bearish) changes. The signals, while a bit common, can sometimes dictate large direction changes, started by a dominant volume switch.
On top of different display modes, there is also one more volume mode: buy/sell volume. Instead of only showing the total volume and relative volume, it calculates and separates buying and selling volume.
This volume mode displays differently in all three viewing modes, but the basic principle is the same. It adds a vital piece of information to the chart without adding clutter. The calculation for buy/sell volume uses the candle wicks and body to compare bullish and bearish movement.
Classic mode
Classic mode takes the default volume indicator and improves upon it by also displaying the relative volume on top of the actual volume. Relative volume is calculated similarly between the three display modes: simply by comparing the current bar’s volume to the volume at the same time during previous trading days. Classic mode displays this “relative volume” as well as a simple EMA over top of the actual trading volume.
Originality
The script improves upon the existing relative volume indicator by using previous trading days rather than previous candles to generate the relative volume. On top of that, the calculation methods are unique, using different formulas like variations of the sigmoid function to smooth noise. The main issue this script aims to fix is that towards the start or end of the day relative volume indicators all see spikes as volume grows into close. The new relative volume calculations fix this problem and show what the “true” relative volume is because they compare the current bar to the “same” bar on previous trading sessions.
Relative Volume Intensity Control Chart***NOTE THE VOLUME OSCILATOR PROVIDED AT THE BOTTOM IS FOR COMPARSION AND IS NOT PART OF THE INDICATOR****
This indicator provides a comprehensive and a nuanced representation of volume relative to historical volume. The indicator aims to provide insights into the relative intensity of trading volume compared to historical data. It calculates two types of relative volume intensity: mean volume intensity and point volume intensity. The final indicator, "Relative_volume_intensity," is a combination of these two.
1. Point Volume Intensity:
Calculate the ratio of the current volume to the corresponding SMA from the previous period for each of the periods.
Normalize each ratio by dividing it by the corresponding normalized SMA.
Assign weights to each normalized ratio and calculate the point volume intensity.
Point volume intensity calculates the intensity of the current trading volume at a specific point in time relative to its historical moving average. It assesses how much the current volume deviates from the previous historical average for different lookback periods(current volume/ average volume of previous n days). The calculation involves dividing the current volume by the corresponding previous historical moving average and normalizing the result. The purpose of point volume intensity is to capture the immediate impact of the current volume on the overall intensity, providing a more dynamic and responsive measure.
2. Mean Volume Intensity:
Calculate the simple moving averages (SMA) of the volume for different periods (5, 8, 13, 21, 34, 55, 89, 144).
Normalize each SMA by dividing it by the SMA with the longest lookback (144).
Assign weights to each normalized SMA and calculate the mean volume intensity.
Mean volume intensity, on the other hand, takes a broader approach by looking at the mean (average) of various historical moving averages of volume. Instead of focusing on the current volume alone, it considers the historical average intensity over multiple periods. The purpose of mean volume intensity is to provide a smoother and more stable representation of the overall historical volume intensity. It helps filter out short-term fluctuations and provides a more comprehensive view of how the current volume compares to historical norms.
Purpose of Both:
Both point volume intensity and mean volume intensity contribute to the calculation of the final indicator, "Relative_volume_intensity." The idea is to combine these two perspectives to create a more comprehensive measure of relative volume intensity. By assigning equal weights to both components and taking a balanced approach, the indicator aims to capture both short-term spikes in volume and trends in volume intensity over a relatively extended periods.
In calculation of both point volume intensity and mean volume intensity, shorter-term moving averages (e.g., 5, 8) have higher weights, suggesting a greater emphasis on recent volume behavior.
Visualization:
The script then calculates the mean and standard deviation of the relative volume intensity over a specified lookback length.
Plot lines for the centerline (mean), upper and lower 3 standard deviations, upper and lower 2 standard deviations, and upper and lower 1 standard deviation.
Plot the relative volume intensity as a step line with diamond markers.
It is displayed like a control chart where we can see how the relative intensity is behaving when compared to longer historical lookback period.
RSI-Volume Oscillator Quick Scalping By Akhilesh PatelTitle: RSI-Volume Oscillator Quick Scalping Indicator
Description:
The "RSI-Volume Oscillator Quick Scalping" is a powerful and versatile custom indicator designed for traders who engage in scalping strategies. This indicator combines the Relative Strength Index (RSI) with a Volume Oscillator to provide valuable insights into momentum and volume dynamics in the market. Traders can also select their preferred moving average types (SMA, EMA, or HMA) to further customize the indicator's behavior.
Key Features:
RSI and Volume Oscillator Fusion: The indicator blends the RSI and a custom Volume Oscillator to offer a comprehensive view of both price momentum and volume trends. This integration provides valuable signals for quick scalping opportunities.
Customizable Moving Averages: Traders can choose from three popular moving average types (SMA, EMA, or HMA) for further customization. This flexibility allows users to align the indicator with their preferred trading strategies.
Clear Visualization: The Combined RSI-Volume Oscillator is plotted as a solid blue line, while the three selected moving averages are represented by orange, purple, and green lines, respectively. The zero line, overbought, and oversold levels for RSI are also indicated for easy reference.
Quick Scalping Signals: The indicator helps traders spot potential buy and sell signals efficiently, making it ideal for quick scalping strategies in rapidly moving markets.
Usage Instructions:
Customize the indicator by selecting your preferred RSI length, Volume Oscillator length, and moving average type (SMA, EMA, or HMA).
Observe the Combined RSI-Volume Oscillator and moving averages for potential entry and exit points.
Look for crossovers between the Combined RSI-Volume Oscillator and the selected moving averages for buy and sell signals.
The overbought (70) and oversold (30) levels for RSI can be used to identify potential reversal points.
Important Note:
Test the indicator on historical data and demo accounts before using it in live trading to ensure it aligns with your trading strategy.
Understand that no indicator guarantees profits, and trading involves risk. Always use proper risk management and discipline when executing trades.
Overall, the "RSI-Volume Oscillator Quick Scalping" indicator is a valuable addition to any scalper's toolkit, providing comprehensive insights into momentum and volume dynamics to enhance trading decisions. Happy scalping!
Normalized Elastic Volume Oscillator (MTF)The Multi-Timeframe Normalized Elastic Volume Oscillator combines volume analysis with multiple timeframe analysis. It provides traders with valuable insights into volume dynamics across different timeframes, helping to identify trends, potential reversals, and overbought/oversold conditions.
When using the Multi-Timeframe Normalized Elastic Volume Oscillator, consider the following guidelines:
Understanding Input Parameters : The indicator offers customizable input parameters to suit your trading preferences. You can adjust the EMA length (emaLength), scaling factor (scalingFactor), volume weighting option (volumeWeighting), and select a higher timeframe for analysis (higherTF). Experiment with these parameters to optimize the indicator for your trading strategy.
Multiple Timeframe Analysis : The Multi-Timeframe Normalized Elastic Volume Oscillator allows you to analyze volume dynamics on both the current timeframe and a higher timeframe. By comparing volume behavior across different timeframes, you gain a broader perspective on market trends and the strength of volume deviations. The higher timeframe analysis provides additional confirmation and helps identify more significant market shifts.
Normalized Values : The indicator normalizes the volume deviations on both timeframes to a consistent scale between -0.25 and 0.75. This normalization makes it easier to compare and interpret the oscillator's readings across different assets and timeframes. Positive values indicate bullish volume behavior, while negative values suggest bearish volume behavior.
Interpreting the Indicator : Pay attention to the position of the Multi-Timeframe Normalized Elastic Volume Oscillator lines relative to the zero line on both timeframes. Positive values on either timeframe indicate a bullish bias, while negative values suggest a bearish bias. The distance of the oscillator from the zero line reflects the strength of the volume deviation. Extreme readings, both positive and negative, may indicate overbought or oversold conditions, potentially signaling a trend reversal or exhaustion.
Combining with Other Indicators : For more robust trading decisions, consider combining the Multi-Timeframe Normalized Elastic Volume Oscillator with other technical analysis tools. This could include trend indicators, support/resistance levels, or candlestick patterns. By incorporating multiple indicators, you gain additional confirmation and increase the reliability of your trading signals.
Remember that the Multi-Timeframe Normalized Elastic Volume Oscillator is a valuable tool, but it should not be used in isolation. Consider other factors such as price action, market context, and fundamental analysis to make well-informed trading decisions. Additionally, practice proper risk management and exercise caution when executing trades.
By utilizing the Multi-Timeframe Normalized Elastic Volume Oscillator, you gain a comprehensive view of volume dynamics across different timeframes. This knowledge can help you identify potential market trends, confirm trading signals, and improve the timing of your trades.
Take time to familiarize yourself with the indicator and conduct thorough testing on historical data. This will help you gain confidence in its effectiveness and align it with your trading strategy. With experience and continuous evaluation, you can harness the power of the Multi-Timeframe Normalized Elastic Volume Oscillator to make informed trading decisions.
Bull Bear Power VoidThere are a million oscillators out there based on volume. My biggest problem with them is that they simply tell you whether you have volume to the upside or volume to the down side. it's kind of tricks you with the lack of information into thinking you have a change in your trend or that you're going to be able to break out of a range across a moving average or through some trend line or support and resistance.
However many of these Oscillators are failing because they lacked to tell you one key thing. they tell you that you have volume but they never tell you if it's enough volume.
Even a popular indicator like the MACD can have its MACD Line crossing upwards over the signal, telling you that you have an uptrend but again it's still failing to give you the results of how much volume you have and is it enough volume in that crossover. It boils down to the one key fact that with out volume there is no momentum. This should be able to make trading crossovers a lot easier.
So in today's video I'm going to show you the newest addition to the trading View Community Scripts and it is called,
"The Bull Bear Void Volume Oscillator"
From my own testing, this oscillator can predict weather the next candle will get you the move you need or not.
In the markets you cannot have anything good without volume. after you have volume you have momentum. you cannot have momentum without volume and this is the key thing that causes people to fail when they look for breakouts, trend reversals, or if they're wondering whether this move is a fake out.
This indicator is based on the study volume spread analysis or VSA.
This indicator is designed to be paired perfectly with the Heiken Ashi Algo oscillator.
www.INSERTA-LINK-HERE.com
This indicator is strictly to be used as a confirmation indicator and not to be used by itself to tell you when to buy or sell.
what are its parts.
The void
is a bullish and bearish Cloud that appear extending from the center of words and the center down words. This is the average range of volume. anything that appears to close inside of this void is usually a ranging volume and it is not enough to break the trend or break out.
The MACD and MACD Signal Line
Just like using the macd these two lines indicate whether the trend is moving up for the trend is moving down
The Colored Columns
RED Column - Indicates volume movie downward
Light Red - indicates volume is pulling back from a downward move
Green - indicates volume is moving upwards
Light Green - indicates volume is moving down from an outboard move
Rules for a SELL CONFIRMATION TRADE
The macd line must be underneath the signal line and the macd line must be below the midline.
A bullish column must appear below the midline and it must extend outside of the red void.
if you are using the heikin-ashi Aldo oscillator you must also have a red heiken Ashi candle close below -10.
To do a by trade you simply reverse the rules.
Volume Oscillator RefurbishedThis is an experimental version of Volume Oscillator.
For more information about Volume Oscillator, please access the link below:
www.tradingview.com
Objective
The script presented here provides some improvements over the original indicator, namely:
Show multiple moving averages;
Color the bars according to the direction of the averages;
Color the bars when reaching predefined limits.
Below is the print comparing with the original indicator:
Thanks and credits:
Volume Oscillator: TradingView
Moving Averages: PineCoders, CrackingCryptocurrency, MightyZinger, Alex Orekhov (everget), alexgrover, paragjyoti2012, Franklin Moormann (cheatcountry)
[blackcat] L1 volume Oscillator IndicatorLevel: 1
Background
Omega Research proposed volume oscillator indicator in June 2000.
Function
This is actually a volume-price indicator. With columns greater than zero line, which indicates a up trend. Otherwise, it is a down trend. Green columns indicate up trend pump; yellow columns indicate up trend retracements; red columns indicate down trend dump; blue columns indicate down trend re-bounce.
Key Signal
VolOsc --> volume osillator indicator.
Remarks
This is a Level 1 free and open source indicator.
Feedbacks are appreciated.
Volume Records + AlertContents
Overall Introduction
Settings menu parameters
Usage
How to use alerts
Limits
Overall Introduction
This indicator is a "volume analysis" tool for confirming the direction and strength of price trend and spotting trend reversals. This tool consists of two parts:
1- The colored graph is a custom volume oscillator which shows the relative changes in volume.
The darkening of the color of the bars is a sign of increasing volume.
2- Triangular labels that show trading volume records over different time periods based on the absolute values of the volume.
By creating an alert, you can be notified of new trading volume records. These records are:
Highest / lowest volume in one year,
Highest / lowest volume in six month
Highest / lowest volume in three month
Highest / lowest volume in one month
Highest / lowest volume in one week
Settings menu parameters
{Short Length} =>
The fast volume MA of the Volume Oscillator.
{Long Length} =>
The slow volume MA of the Volume Oscillator.
{Visual Parameters} =>
Parameters to personalize the appearance of the indicator.
{Alert Conditions Part 01: Highest Records ⏰ } =>
Parameters to customize the alert.
{Alert Conditions Part 02: Lowest Records ⏰ } =>
Parameters to customize the alert.
Usage
This indicator is a "volume analysis" tool for confirming the direction and strength of price trend and spotting trend reversals.
What Is Volume Analysis?
Volume analysis involves examining relative or absolute changes in an asset's trading volume in order to make inferences about future price movements.
A significant price increase along with a significant volume increase, for example, could be a credible sign of a continued bullish trend or a bullish reversal.
The gradual darkening of the bars is a sign of the strength of the trend.
Volume can be an indicator of market strength, as rising markets on increasing volume are typically viewed as strong and healthy.
How to use alerts
Note that by creating an alert, an instance of the indicator, with all your settings, will be activated on the site's server and alerts will be triggered by it.
After that, changing the indicator settings on the chart will no longer affect the alert.
Open the settings window and select the alert conditions as you wish
Click the Create Alert button (or press the A key while holding down the ALT key)
In the Condition section, select the name of the indicator.
Make the rest of the settings as you wish.
Finally, click on the Create button.
It's finished. After a few moments, your alert will be added to the Alerts menu.
Limits
The labels are displayed after the bars close.
Labels are displayed for the last 10,000 bars.
Percentage Volume Oscillator (PVO)The Percentage Volume Oscillator (PVO) is a momentum oscillator for volume. The PVO measures the difference between two volume-based moving averages as a percentage of the larger moving average. As with MACD and the Percentage Price Oscillator (PPO), it is shown with a signal line, a histogram and a centerline. The PVO is positive when the shorter volume EMA is above the longer volume EMA and negative when the shorter volume EMA is below. This indicator can be used to define the ups and downs for volume, which can then be used to confirm or refute other signals. Typically, a breakout or support break is validated when the PVO is rising or positive.
Generally speaking, volume is above average when the PVO is positive and below average when the PVO is negative. A negative and rising PVO indicates that volume levels are increasing. A positive and falling PVO indicates that volume levels are decreasing. Chartists can use this information to confirm or refute movements on the price chart.
Even though the PVO is based on a momentum oscillator formula, it is important to remember that moving averages lag. A 12-day EMA include 12 days of volume data, with newer data weighted more heavily. A 26-day EMA lags even more because it contains 26 days of data. This means that the PVO(12,26,9) can sometimes be out of sync with price action.
The Percentage Volume Oscillator (PVO) is a momentum indicator applied to volume. This oscillator can be quite choppy due to the fact that volume doesn't trend. Bullish and bearish divergences are not well suited for the PVO. Instead, chartists would be better off looking for signs of increasing volume with a move into positive territory and signs of decreasing volume with a move into negative territory. Increasing volume can validate a support or resistance break. Similarly, a surge or significant support break on low volume may be less robust. As with all technical indicators, it is important to use the Percentage Volume Oscillator (PVO) in conjunction with other aspects of technical analysis, such as chart patterns and momentum oscillators.
MACRS {Lite}This is the open-source stripped down version of the full-featured RSI-MACD indicator (MACRS), with the ADO and the option to filter out weekend price action removed.
The main oscillator is the RSI modulated by the MACD (default). The RSI mode can be disabled to revert to a normal MACD oscillator for the main oscillator.
When the main oscillator (thicker line) is > 0, it is green; and if it is < 0, it is red.
The MACD can be re-scaled and whenever its value > 100, a background fill between the oscillator and the zeroline appear to indicates overbought condition; and < -100 indicates oversold condition. The user can tweak the scaling factor to optimize this for a given chart and timeframe.
A (thick transparent light blue) volume oscillator is also provided. An increase in volume trend provides confirmation of (or solidifies) the movements in the main oscillator over that period. A falling volume oscillator trend raises doubts on the main oscillator trend, and hints of the possibility of a counter-trend (also look at the secondary ADO oscillator for clues).
The novel aspects and principles of this indicator and this source code are the property of © cybernetwork.
This indicator and script is free for the TV community to use.
