The "Zaree - Bull & Bear Volume Void" (BBVV) indicator is a versatile tool designed to help traders assess the dynamics of bull and bear power in the market, with a focus on volume-based analysis. This indicator offers a range of features that aid in identifying potential shifts in market sentiment and strength.
Details of the Indicator:
Volume Void Color Settings: This indicator allows you to customize the colors used for different conditions, such as strong bull areas, slowing bull areas, strong bear areas, and slowing bear areas. These colors play a crucial role in visualizing the indicator's output.
Volume Void Settings: The BBVV indicator provides options for selecting specific volume void functions, which include "Relative Volume Comparison," "Percentage of Average Volume," "Fixed Volume Threshold," "Volatility-Adjusted Volume," "Compare to Previous Volume Bars," "Volume Percentile Rank," and "Market Session Comparison." Each function has its own criteria for evaluating volume conditions.
Void Bull Sensitivity and Void Bear Sensitivity: These are key parameters in the settings. The values you choose for void bull sensitivity and void bear sensitivity will significantly impact the background color displayed by the indicator. Properly configuring these values is crucial for the indicator's effectiveness.
Moving Average Settings: You can specify the source and length of moving averages used in the indicator. This helps in smoothing out data and providing a clearer picture of bull and bear power.
Void Color Background Conditions: The indicator dynamically changes the background color of the chart based on the current market conditions. It takes into account bull and bear power, as well as the configured sensitivity levels to determine whether the market is in a strong or slowing bull/bear phase.
MACD and Signal Lines: The indicator also displays MACD and signal lines on the chart, helping traders identify potential bullish and bearish crossovers.
Histogram Bars: Histogram bars are used to represent the strength of bull and bear power. Above-zero bars indicate bullish strength, while below-zero bars indicate bearish strength.
How to Use the Indicator:
Begin by customizing the color settings for different market conditions to your preference.
Select a volume void function that aligns with your trading strategy and objectives.
Configure the void bull sensitivity and void bear sensitivity values carefully. These values should reflect your desired sensitivity to volume conditions.
Choose the source and length of moving averages based on your analysis requirements.
Pay attention to the background color of the chart. It will change dynamically based on the current market conditions, providing insights into the strength of bull and bear power.
Observe the MACD and signal lines for potential bullish or bearish crossovers, which can be used as additional confirmation signals.
Interpret the histogram bars to gauge the strength of bull and bear power.
Example of Usage:
As a swing trader with a focus on volume analysis, you can use the BBVV indicator to enhance your trading decisions. Here's an example of how you might use the indicator:
Select "Relative Volume Comparison" as the volume void function to assess volume relative to a simple moving average.
Configure void bull sensitivity and void bear sensitivity to match your risk tolerance and trading style.
Choose "SMA" as the moving average type with a suitable length.
Pay attention to the background color changes in the chart. Strong bull areas may indicate potential bullish opportunities, while strong bear areas may signal bearish conditions.
Monitor the MACD and signal lines for potential crossovers, aligning them with the background color to validate your trading decisions.
Use the histogram bars to assess the strength of bull and bear power, helping you gauge market sentiment.
Remember that the BBVV indicator is a valuable tool to complement your trading strategy. It provides insights into volume dynamics and market conditions, allowing you to make informed trading choices.
Be sure to adjust the indicator settings according to your trading preferences and always consider the broader market context in your analysis.
@TradingView According to your "Originality and usefulness" and "Open Source Resuse" rules
I am still not sure why this indicator is still being listed here. The code being submitted to tradingview is essentially stolen and does not offer 1. Credit to the originator 2. the only additions to the code are adding different moving averages. (i stripped this code away from my original because it offers no real value in the results) 3. The MAJORIY of the original code is being used instead of a minority as described in your publication rules.
To all of this i am amiss of the reason why this indicator still exists as a publication on the TradingView community.
Here is the outline of both rules i have stated above.
"Originality and usefulness" Ensure your script is original and will add value to the Community Scripts. Avoid rehashing open-source built-ins, auto-generated code, code from our or third-party learning materials, or other public domain code. While such exercises might help you learn Pine, they do not add to the body of knowledge on TradingView.
""Open Source Resuse" If your script reuses open-source code from another author: You must credit the author in your publication’s description. It is also good form to credit in open-source comments. You must make significant improvements to the original code base, and it must account for a small proportion of your script. Stylistic changes, input changes, variable renaming, code rearranging, conversion between Pine Script™ versions, etc. do not constitute significant improvements. Your script must also be published open-source, unless explicit permission to that effect was granted by the original author, or unless the reused code is considered public domain AND it constitutes an insignificant part of your codebase.
I have already reported this to you as Tradingview but the only thing you did was force the script to go from Private to open source. However it still violates at minimum 3 points of your own rules.
Foundation911
⋅
Its not nice to steal.. in prison or society. At least give credit to where you got the code from smuck
According to your "Originality and usefulness" and "Open Source Resuse" rules
I am still not sure why this indicator is still being listed here.
The code being submitted to tradingview is essentially stolen and does not offer
1. Credit to the originator
2. the only additions to the code are adding different moving averages. (i stripped this code away from my original because it offers no real value in the results)
3. The MAJORIY of the original code is being used instead of a minority as described in your publication rules.
To all of this i am amiss of the reason why this indicator still exists as a publication on the TradingView community.
Here is the outline of both rules i have stated above.
"Originality and usefulness"
Ensure your script is original and will add value to the Community Scripts. Avoid rehashing open-source built-ins, auto-generated code, code from our or third-party learning materials, or other public domain code. While such exercises might help you learn Pine, they do not add to the body of knowledge on TradingView.
""Open Source Resuse"
If your script reuses open-source code from another author:
You must credit the author in your publication’s description. It is also good form to credit in open-source comments.
You must make significant improvements to the original code base, and it must account for a small proportion of your script. Stylistic changes, input changes, variable renaming, code rearranging, conversion between Pine Script™ versions, etc. do not constitute significant improvements.
Your script must also be published open-source, unless explicit permission to that effect was granted by the original author, or unless the reused code is considered public domain AND it constitutes an insignificant part of your codebase.
I have already reported this to you as Tradingview but the only thing you did was force the script to go from Private to open source. However it still violates at minimum 3 points of your own rules.