The above chart shows an example of 2 indicators being used on the 15 min chart. The bottom indicator is set to the 1 min chart. Traders can see a large dump on the 1 min chart as institutions wipe out any tight stop losses. Next they buy back in scooping up all those long positions.
This is an example layout using a split screen setup and multiple timeframes ranging from 1 min to 30 mins. This gives a clear indication of trends and make it easy to pickup on institutional behaviour. Tip: Double clicking indicator background will maximize RVOL to the split screen window.
-Signal for entry point
-Alert for when volume crosses defined amount.
-Alert for entry point
Entry point signals pick up great on the 1 second to 1 min charts.
It seems a lot of traders love the entry points... So I've made more entry points.
Entry points are LSMA breakouts, originally this was based on LSMA with a length of 50 (Now the LSMA is configurable in settings).
This indicator now picks up LSMA 21 and LSMA 6 breakouts too! What this means is that you will find more entry points on longer time frames.
For those that trade on 5min and less charts you might want to turn these off as they are not as strong signals as the LSMA 50.
Ive also added a traditional RVOL calculation that can be turned on in settings. This divides current volume over average volume. Amount of bars used to calculate average is set at 30 but can be changed in settings.
I should mention I now have a RVOL entry point screener indicator that scans 13 different stocks of your choice for entry points and gives you alerts. You can get it here:
Join me for free on Bybit with my referral link and we both get $20 (plus you get lots of extra bonuses in reward hub).
By changing the style options for the volume columns traders can switch between column, histogram or step line. Removing the blue moving averages can clean the indicator or even remove everything but the anomalies. Adjusting transparency can also help hide the volume columns to give a more traditional look as seen in the 3rd example on top indicator. These anomaly columns are big movements in volume and tend to dictate the short term trend of price action.
Zgodnie z prawdziwym duchem TradingView, autor tego skryptu opublikował go jako open-source, aby traderzy mogli go zrozumieć i zweryfikować. Brawo dla autora! Możesz używać go za darmo, ale ponowne wykorzystanie tego kodu w publikacji jest regulowane przez Dobre Praktyki. Możesz go oznaczyć jako ulubione, aby użyć go na wykresie.