Heat profileA trader once told me that top wicks equals sell interest and bottom wicks equals buy interest. If that's true then this indicator tries to organize and visualize this idea.
It uses transparent boxes to give the impression of a heat map. Due to limitations of my own skill and possibly pinescript it is not possible to render it in a useful manner using different colors that depicts buy and sell interests respectively. This means it works more like a volume profile in that it mixes the buy and sell interest together in the heat map. This can still be helpful because it help traders focus their attention on areas other than the current price candle.
In my limited time of using it, it seems like on the large timeframes the highlighted areas is where the price wants to go, and on small time frames the darkest areas is where the price wants to go. But i will leave it up to any user to spot and use their own patterns with the indicator.
Last but not least, the indicator only uses the last 50 candles, which can be too little on a small timeframe. Unfortunately the way i have done it this limitation is hardcoded in the script due to how pinescript works, by editing the code you can increase it. (Put max_boxes_count = x after overlay = true. Maximum number is 500)
Hope you enjoy. Have a nice day.
HEAT
Price Heat MapWhat does this chart show? Take the highest high and lowest low of 200 bars. Divide that into 20 chunks. The more time the price spends in one of those 1/20th pockets, the brighter it is lit up on the chart. Number of bars back can be modified to around 500. It starts to chug beyond that. Brightness level of heat map can be adjusted. 0.5 is default. 1 = brighter, 0 = dimmer. Use on any time frame. When price moves out of a hot zone, it can move very quickly. There's no trading strategy here, just something to help you visualize recent price action. The blue band shows the price at the center of the current "hottest" band. The yellow band is the ema (exponential moving average) of the price using the "bars back" input. --enjoy!
Stochastic RSI Heat Candles OverlayThis script is based on the Stochastic RSI indicator.
Candles are dynamically colored with a customizable RGB shading directly generated from the average Stochastic RSI current value.
By default, colors represent the following status -> green is overgought & red is oversold.
Options:
Shading colors: Choose between Red/Green, Green/Blue, and Blue/Red shadings to represent the SRSI heat.
Invert colors: Switch colors of the selected shading.
Third color: Select a value from 0 to 255 for the third color which does not vary.
Transparency: Select the transparency value.
Overlay style : Choose to color the whole candle, or only borders and wick.
Show candle side: If you choose to fully fill candles with the SRSI heat color , enable this option to plot shapes representing the candles directions.
Candle marks colors: Select bull and bear colors for direction shapes.
Overbought and Oversold situations are also represented by colored shapes at the top of the chart.
Standards Stochastic RSI parameters.
Examples:
Notes:
Do not forget to bring the script to the front of your chart to avoid being covered by default candles.
Next improvements would probably be a better coloring algorithm, however, do not hesitate to suggest any modifications in comments.
Initially, I shared a Stochastic RSI Heat Bollinger Bands indicator which gave me the idea to develop this one, you can find it on my profile.
Stochastic RSI Heat Bollinger BandsThis indicator is based on a combination of the famous Bollinger Bands and the Stochastic RSI indicator.
Bands are dynamically colored (and filled) with a RGB color composed by red and green values, directly generated from the average Stochastic RSI current value.
By default, colors represent the following status -> green zone is overgought & red zone is oversold.
A screener is also displayed on the chart, representing StochRSI K and D lines values, RSI value, as well as the current status (Overbought/Oversold) of the StochRSI and RSI indicators.
Notes:
The heat color and the screener status are both based on the average value between the K and D lines (for stochastic RSI based heat)
Bands can be disabled in options to use this indicator as a simple moving average colored by the Stochastic RSI heat color.
Options:
Various moving average types (SMA, EMA, SMMA, VWMA...)
Inversion of colors between overbought and oversold status
Enabling/disabling heat color on bands / basis line and bands background color
Show/Hide the screener
Color source can be modified to base the heat on the RSI instead of the Stochastic RSI value
Standards Bollinger bands, Stochastic and RSI parameters
Example
Feel free to suggest any improvements in comment.
Multi BB Heat Vis - SMA/EMA/Breakout - r2I don't expect to iterate any further on this script, unless any weird issue crops up.
Description and usage detailed in the comments at the top of the script. Cheers!
To repaint or not to repaint, all the relevant sources are exposed as inputs for customisation - so the choice is yours.
Cheers!
[JR] Multi Bollinger Heat Bands - EMA/Breakout optionsA little, yet hopefully useful update over my previous "Multi Bollinger Heat Bands". For those who like quick visual cue's.
In short: It's your Basic Bollinger Bands, but 3 of them, and some pointy things.
In full:
Three stacked SMA based Bollinger Bands designed just to give you a quick visual on the "heat" of movement.
Set inner band as you would expect, then set your preferred additional multiplier increments for the outer 2 bands.
Option to use EMA as alternative basis, rather than SMA.
Breakout indication shapes, which have their own multiplier (but still tied to same length/period as the BB's) so you can make them pop on their own separate "band".
