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This is originally @cryptorae's script with modifications. A great explanation of function can be found on their Twitter .
Original comments:
Follow me @cryptorae on twitter
H/T @AureliusBTC and @cryptom173 for tweaks and assistance
Added three more setups:
The correlation oscillator shows that inverse/lowering correlation can result in price increasing, acting as if oversold; the same can be said when correlation increases.
"Raw" volume is the volume tickers without changing anything about them.
Percent change is the % difference from the current bar and bar.
Color coded the columns based on percent levels; <15%/<25%/<35%/<39%/<55%/>55%. <46% created too much noise for an indicator. 36% - 38.99% is red to alert possible trend changes in the ratio.
(Overly) summarized use of the original script:
The volume bars up -> Common fiat onramp exchanges have good volume that signal an influx of new investors
The volume bars down -> The majority of volume is on big boy exchanges where retail/new investors aren't likely to be trading
Original comments:
Follow me @cryptorae on twitter
H/T @AureliusBTC and @cryptom173 for tweaks and assistance
Added three more setups:
- Correlation oscillator
- Raw volume
- Percent change for the two sets of volume ("retail" and "nonretail"), independent of each other
The correlation oscillator shows that inverse/lowering correlation can result in price increasing, acting as if oversold; the same can be said when correlation increases.
"Raw" volume is the volume tickers without changing anything about them.
Percent change is the % difference from the current bar and bar.
Color coded the columns based on percent levels; <15%/<25%/<35%/<39%/<55%/>55%. <46% created too much noise for an indicator. 36% - 38.99% is red to alert possible trend changes in the ratio.
(Overly) summarized use of the original script:
The volume bars up -> Common fiat onramp exchanges have good volume that signal an influx of new investors
The volume bars down -> The majority of volume is on big boy exchanges where retail/new investors aren't likely to be trading
Oct 19
版本注释:
Added Bithumb toggle to make it usable for their current washtrading event. This was the main reason for updating because it was useless otherwise
General script cleanup
Removed the percent/raw volume changes
USD denominated exchanges have had their formula changed from volume / close to volume / hlc3
Added bitFlyer futures exchange as nonretail option for theory
Added toggle for color changes; using raw values to derive information vs. local momentum seems to be a mistake and can cause confusio
General script cleanup
Removed the percent/raw volume changes
USD denominated exchanges have had their formula changed from volume / close to volume / hlc3
Added bitFlyer futures exchange as nonretail option for theory
Added toggle for color changes; using raw values to derive information vs. local momentum seems to be a mistake and can cause confusio
I am back! Here's my current favorite market condition indicators:
https://www.tradingview.com/script/YFUS4pfN-Volume-Zone-Oscillator-and-Price-Zone-VZO-PZO-NeoButane/
https://www.tradingview.com/script/L9xS2tcr-Money-Box/
Both recently updated :)
https://www.tradingview.com/script/YFUS4pfN-Volume-Zone-Oscillator-and-Price-Zone-VZO-PZO-NeoButane/
https://www.tradingview.com/script/L9xS2tcr-Money-Box/
Both recently updated :)
The original author has updated it here for the time being: