INVITE-ONLY SCRIPT
Boom Hunter XL
Updated
Boom Hunter XL is a professional trading tool designed to expose perfect entries and incredible exits. This complete ground up rebuild of Boom Hunter Pro is an absolute essential for any professional trader or anyone serious about trading. Boom Hunter XL includes many upgrades to the Pro version such as volume pressure analysis, improved pressure dots, two new support and resistance lines and volume breakout detection. It also has options to display current volume and average volume it the top right corner.
A new and improved Volume Pressure Analysis exclusive to Boom Hunter XL can be turned on or off in the settings. This provides relative volume information highlighting anomalies and key movements. It also shows volume pressure. Sometimes when crossing a support or resistance line it takes a lot of volume to move price just a little. When price action crosses or bounces off a SR line it requires very little volume to move the price a lot. What this means is traders can visually see price action getting pulled in or pushed away from a SR line. The current bar shows live directional pressure. Volume pressure is used to confirm entries and continuations.
Red wave is the main support resistance line dictating short term trend direction. Enter trades after the oscillator crosses through or even better with pressure dots or volume pressure. If the oscillator is above the red wave it is an up trend and if it is below its a down trend.
The gray wave shows medium term support/resistance and general trend. This line is much harder to cross. Price action can easily bounce within this wave or get rejected.
The strongest SR lines are the top and bottom gray lines. The resistance line will bottom out under pressure and expose a low point. Likewise the support line will roof and expose a high point.
When there is extreme pressure the gray line will drag. This signal suggests that price action will will pullback and retest and push again. Avoid entering trades in these moments as the true bottom/top has not been exposed. Following price action along longer timeframe charts will help find the true low/high.
Tracking traditional patterns makes it easy to find the next breakout and direction.
Bear patterns
Bull patterns
Volume breakouts
Drawing support and resistance lines
Example of some of the signals:
A new and improved Volume Pressure Analysis exclusive to Boom Hunter XL can be turned on or off in the settings. This provides relative volume information highlighting anomalies and key movements. It also shows volume pressure. Sometimes when crossing a support or resistance line it takes a lot of volume to move price just a little. When price action crosses or bounces off a SR line it requires very little volume to move the price a lot. What this means is traders can visually see price action getting pulled in or pushed away from a SR line. The current bar shows live directional pressure. Volume pressure is used to confirm entries and continuations.
Red wave is the main support resistance line dictating short term trend direction. Enter trades after the oscillator crosses through or even better with pressure dots or volume pressure. If the oscillator is above the red wave it is an up trend and if it is below its a down trend.
The gray wave shows medium term support/resistance and general trend. This line is much harder to cross. Price action can easily bounce within this wave or get rejected.
The strongest SR lines are the top and bottom gray lines. The resistance line will bottom out under pressure and expose a low point. Likewise the support line will roof and expose a high point.
When there is extreme pressure the gray line will drag. This signal suggests that price action will will pullback and retest and push again. Avoid entering trades in these moments as the true bottom/top has not been exposed. Following price action along longer timeframe charts will help find the true low/high.
Tracking traditional patterns makes it easy to find the next breakout and direction.
Bear patterns
Bull patterns
Volume breakouts
Drawing support and resistance lines
Example of some of the signals:
Release Notes
First update includes an option for traders to expand the red support and resistance line. This can help determine the strength of the band and also help avoid entering trades during sideways action. I have also made pressure dots larger so its easier to see.Update also includes alerts:
Crossover: Cross over of the main oscillator
Crossunder: Cross under of the main oscillator
Crossover Red SR: Main Oscillator crosses over the red SR band
Crossunder Red SR: Main Oscillator crosses under the red SR band.
Crossover With Pressure: Main oscillator crosses over while there is pressure (green dots)
Crossunder With Pressure: Main oscillator crosses under while there is pressure (red dots)
Testing Resistance: Bottom support line (oversold) hits the ceiling, signalling price action is testing resistance line of current price channel.
Testing Support: Top resistance line (overbought) bottoms out, signalling price action is testing support line of current price channel.
There are many more alerts and signals to come, I will be releasing them with the release of the boom hunter wiki so I only have to explain it once and can go into detail.
Release Notes
This latest update includes several improvements. First I have added a SMA 20 line next to the current volume bar. This acts an average level for volume. Any volume levels that exceeds this line are considered an anomaly. There is now a confirmation for the main oscillator. This uses a second oscillator to give you confirmation of a movement and is very helpful for riding trends. Traders can now change the length of main oscillator and trigger (default setting is 6 and 2 for trigger) and the confirmation oscillator (default 10,2). You can experiment with confirmation oscillator to tune it to the trends you like to ride. For example changing this to something like 20,5 will ride much more longer trends. The indicator price line will be transparent until both these oscillators cross. Which confirmation the price line lights up.
To test this I have included a back testing mode which will be improved in the future. This exposes the color change in the price line as well as all the LSMA volume breakout signals. Next update it will show all the alerts and signals so you can see exactly where they fire.
There is now a light theme mode to improve the look for people using Trading Views light theme. Default color settings have changed for the top and bottom lines which can be changed back by choosing “mono colours” in the settings.
LSMA volume breakouts (circle signal at top of indicator) now only show for the last 10 bars, if you want to see them all use back testing mode. These are solid signals and use LSMA to pickup breakouts in volume which are very hard to notice by eye. A typical volume breakout is a tapering of volume into a large movement. If you use faster timeframes like 15min or less turn off LSMA 6 in settings as it will be too sensitive. Do not just enter trades because you see this signal. This is for when you have already setup a trade and will assist you in a great entry. Entering a trade with a breakout in volume can see you jump straight into profit and makes for a very comfortable entry.
Release Notes
Minor update: Includes more configurable settings for all of the lines. An an adjusted red SR line (old setting was 27), RVOL can now be hidden.
Release Notes
Minor update includes options to customize ticker ID and show only current volume data Release Notes
Update includes option to use an external source and the ability to use Center Of Gravity Oscillator as the main oscillator.Release Notes
Update includes 2 new themes for the gray SR. New alerts added for crossing gray SR. Minor name fixes on style options.Below are theme 1 and theme2, both with mono color turned on and volume analysis turned off.
Release Notes
Update removes COG (now available as standalone indicator)-Added Fibonacci lines with 2 themes: "Scale" and "Sniper"
Release Notes
Update includes Mechanical Switch Detector (Volume Hack)Some alerts have been removed as they will be handled with new overlay and screener indicators.
Fibonacci lines are now turned on by default.
The switch detector reads volume as a voltage and picks up the mechanical signal of a switch. Instead of looking at the light globe to see when it turns on, this picks up the surge/pattern created when flicking on the switch. This picks up chart movements/cycles directly from the switches used in the ticker machine.. Faster than light.
Adjust "len" in the settings to select the sensitivity of the current used to calculate the threshold. 26 is default but try lengths of 200 or even 6 for smaller surges of current. This script assumes the ticker data is an analog signal and picks up mechanical responses that are embedded within this signal. Nothing is random.
Boom Hunter XL has the most powerful and complete volume analysis tools available to the public.
Purple lines signal cycle changes (can be turned on in settings)
Yellow arrows signal direction of cycle.
Release Notes
Amplify feature is now turned off by defaultExpanded feature is now turned on by default
The amplify feature will amplify the oscillator to assist in riding pump and dumps as well as highlight pullbacks
Release Notes
First stage of the complete overhaul of the XL indicators. Boom Hunter XL has been stripped back to make room for new features. You will find things are missing like volume switch, backtesting mode and confirmation color change on priceline. The price line now turns yellow when pushing the channel. Pressure dots are hidden by default, so is OSC2 (Red SR) and OSC4 (Channel Support and Resistance Lines). Lines now have tick boxes next the them in the settings. This allows you to easily turn lines on and off, turning off oscillator 1 will remove everything like back testing mode. Labels in the style settings have been fixed and improved to make it much easier to navigate the menu. New levels have been added that will be needed in upcoming strategies. The focus is to make this indicator as easy to read and use as possible. For now first pullbacks and pump and dump signals are displayed on the indicator. A SR line is draw when there is a pump and dump signal to help you ride the trade. These features will be greatly improved over the next updates.Release Notes
Added smoothing options. Choose between Default, Fibonacci, Pi, Flat and Golden Ratio options. Golden Ratio gives the heaviest smoothing and is great for trends. A thin red line now plots over OSC1 when price action is testing the channels support and resistance. Look for first pullback entries after testing the channel. Release Notes
Latest update includes extra options for all oscillators. Traders can now choose independent smoothing or use “sync” to synchronize it with OSC1. OSC2 now has the ability to adjust the amount of “pull”
Tooltips are now available in the settings. Hover your cursor over the ⓘ icon in the settings menu for more information on each function.
Release Notes
- Fixed VPA bugInvite-only script
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