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TradeChartist
Nov 30, 2020 9:25 AM

Simple PVT Strength Spotter 

BINANCE:BTCUSDT60
Bitcoin / TetherUSBinance

描述

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™TradeChartist Simple PVT Strength Spotter is a modified version of Price Volume Trend visualised using Relative Strength and helps spot price trends using visually engaging and appealing PVT Strength Oscillator plot and background. The Bull and the Bear background fills are highly useful for traders who like to visually understand areas of entry/exit based on PVT Strength and Oscillator Highs and Lows help spot Bull and Bear Divergences.

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What does Simple PVT Strength Spotter do?

  • Plots PVT Strength with visually engaging colours for Bull and Bear zones (Green and Red).


  • Plots PVT Strength coloured bars on main chart based on user preferred Upper and Lower PVT Strength bands (Default - 5/-5).


  • Plots PVT Strength based on EMA smoothing (1 for Regular PVT Strength without smoothing).


  • Plots Heikin Ashi PVT Strength if enabled from indicator settings.


  • Plots PVT Strength highs of Bull Zone and PVT Strength lows of Bear Zone. Helps visually spot divergences.


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Note:

Default Settings:

  • 7 period PVT Strength using 5 EMA Smoothing.


  • For Heikin Ashi PVT Strength on normal bars, enable ᴜsᴇ ʜᴇɪᴋɪɴ ᴀsʜɪ PVT Sᴛʀᴇɴɢᴛʜ.


  • Works only on symbols that have Volume data.


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版本注释

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Length Max Value increased to 34
OscillatorsTrend AnalysisVolumepvtpvtoscillatorrelativestrengthvolumeoscillatorDivergencedivergencesvolumepriceanalysis
评论
Jittra
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Thanks. Interesting. But could you increase max val of length or smooth?
TradeChartist
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@Jittra, you can use up to 21 length and Smoothing of not more than 10 is recommended. Especially if you are trying to spot Divergences.
Jittra
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@TradeChartist, yeah I maxed that out and I wonder if more would be better?
TradeChartist
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@Jittra, Trend strength fades out beyond 21 period in my experience, but I will update the length to 55 max in a few hours.
Jittra
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@TradeChartist, thanks.
TradeChartist
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@Jittra, Try 40/-40 50/-50 etc. in the bands to check for Overbought/Oversold zones and if price bar doesnt colour in spite of Higher High or Lower Low, that confirms Divergence visually too.
TradeChartist
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@Jittra, 34 Max length now. Not recommended to increase beyond that.
aithalprasanna
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Very nice script.
Best for any trading- intraday or delivery. swings gives right point to buy or sell.

Thank u a lot for sharing
TradeChartist
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@aithalprasanna, Thank you. All the best.
alynvestor
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Thank you very much, I have been having problems getting out at bottoms and tops, this is great!!
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