Get started

Area

MACD AreaThis indicator calculates and displays the cumulative area for each region above and below the zero line in the MACD histogram. This area measurement serves as a momentum metric, where larger cumulative areas indicate stronger momentum. Divergences between the area and price can also potentially indicate an impending reversal. For example, when the stock price makes a higher high but the area makes a lower high, the current momentum may be unsustainable.
Pine Script™ indicator
by AlphaViz
3
blackOrb PriceblackOrb's Aspiration: Enhancing the Functionality of Area Charts At its core, an area chart analysis serves as the foundational structure for blackOrb Price. Area charts can be seen as an addition to conventional price charts. Unlike price line charts, which connect closing prices with lines, an area chart fills the space between high and low prices, creating a visual representation of price ranges. This approach can offer several advantages, particularly in assessing price volatility and price dynamics. A wider area between high and low suggests high volatility, while a narrower area indicates lower volatility. The orientation of the closing price concerning the high-low range provides insights into whether buyers or sellers are exerting influence on the market. Combined with the following elements, this chart tool can support comprehensive data-driven trading analysis: - Integrated moving averages for price dynamic insights - Zigzag pivot identification for price level insights - Stochastic lookback analysis for turning point insights - Ghost mode for comparative insights Technical Methodology I. Integrated Moving Averages for Price Dynamic Insights Incorporating various MA alternatives allows traders to gain insights into not only price dynamics but also their underlying strength, which is reflected in trading activity. This strength is visually depicted by the derived price line within blackOrb's Price Area Chart. Among the array of MA alternatives, VWMA stands out as a suitable implementation choice for integrating volume data. It goes beyond the scope of a simple moving average, considering both price and volume in its calculation, as shown in the following formula: (C1 x V1 + C2 x V2 + ... + CN x Vn) / (V1 + V2 + ... + Vn) II. Zigzag Pivot Identification for Price Level Insights Zigzag Pivot Identification can be a valuable tool for recognizing possible price movements and potential turning points. It operates by pinpointing pivotal moments where prices alter their course. Essential components of this method involve comparing time units both to the left and right within a designated price dynamic phase, effectively defining the search range for pivotal points. For instance, in the analysis below, the search is for the highest price point that hasn't been surpassed in the last 10 time units to the left and 10 time units to the right: ta.pivothigh(10, 10) The lookback variables analyze price points by simultaneously examining a specified number of time units before and after a potential pivot point as the central reference. A pivot is identified when a price point remains unbreached throughout this period. Note: This method retroactively validates structures, implying that this tool may redraw or adjust its values as price data evolves. This leads to inconsistency and a lack of predictability. III. Stochastic Lookback Analysis for Turning Point Insights The stochastic calculation methodology of this feature centers around the following formula: 100 * (close - lowest(low, length)) / (highest(high, length) - lowest(low, length)) This key formula employs a stochastic calculation methodology that assesses the percentage deviation of the closing price from the lowest low over a specified timeframe (length), relative to the span between the highest high and the lowest low. The outcome is normalized within a range of 0 to 100, providing insights into the relative position of the closing price within the high-low range. Traders can define the specific periods over which the stochastic calculation is performed. Based on this stochastic analysis, the indicator integrates area chart coloring, affording users the flexibility to adjust the sensitivity of area chart coloring according to customized stochastic look-back evaluation phases. Consequently, the coloration by length evaluation can mirror a comprehension of market dynamics. Note: However, it's important to recognize that the efficacy of evaluation coloring might be compromised during periods of lateral price movement, characterized by less prominent market trends. IV. Ghost Mode for Comparative Insights Unveiling convergences and divergences, the Ghost Mode overlays two price charts, which can reveal price trajectories and reactions (e.g. Apple stock's potential response to the NASDAQ 100 Technology Sector Index). Note: This approach may not capture nuanced correlations during intricate market scenarios. Note on Usability This tool is an intricately designed area chart, meticulously created to serve as a fundamental canvas for the seamless integration of other more granular trading indicators. blackOrb Price can have synergies with blackOrb Candle as both indicators combined can give a bigger picture for supporting comprehensive and multifaceted data-driven trading analysis. This indicator isn't intended for standalone trading application. Instead, it offers an alternative approach to traditional area charts, serving as a supplementary tool for orientation within broader trading strategies. Irrespective of market conditions, it can harmonize with a wider range of trading styles and instruments/trading pairs/indices like Stocks, Gold, EURUSDSPX500, GBPUSD, BTCUSD and Oil. Inspiration and Publishing Taking genesis from the inspirations amongst others provided by TradingView Pine Script Wizard Kodify, blackOrb Price is a multi-encompassing script meticulously forged from scratch. It aspires to furnish a comprehensive area chart approach, borne out of personal experiences and a strong dedication in supporting the trading community. We eagerly await valuable feedback to refine and further enhance this tool.
Pine Script™ indicator
by Kala_Bhairava
Pivot Order Blocks// How it Works \\ Order Blocks based on pivot reversal candle When a pivot High or Pivot Low is found and confirmed, a box will be plotted on the open and close values of that pivot candle // Settings \\ In the settings you have the ability to change the distances required to confirm an pivot High or Low These are the lengths where the script checks to see if it is at its local high or low. You also have the ability to change the amount of candles the box stretches over as well as the colors of the bullish and bearish boxes // Use Case \\ Pivot points often provide Support and Resistance points on their own, one way of marking up order blocks is by taking the pivot candle and marking that up as a resistance area where you could be looking for price to reverse // Suggestions \\ Happy for anyone to make any suggestions on changes which could improve the script, // Terms \\ Feel free to use the script, If you do use the script could you please just tag me as I am interested to see how people are using it. Good Luck!
Pine Script™ indicator
by TradingWolf
47
Selected MACD Areas CompareThis is a simple tool to compare two selected MACD histogram area. The MACD histogram area is sometimes used to determine trend reversal or trend strength. One may have difficulty with this when the compared MACD areas are of different shape or similar in size. This indicator/tool allows user to select two time periods on the chart and get a precise compare result. To use the indicator, place a regular MACD indicator on the chart which shows the histogram, then add this indicator and select the two areas of which you want to compare the size. Please make sure that the regular MACD indicator this one have the same source.
Pine Script™ indicator
by chongqing2020
2
Classical Supports & ResistancesThis indicator shows classical resistance and support levels which retraced the chart lately. Notice that the condensed lines laying close together are showing an area of support and/or resistance. But after all, it was a tedious work creating this indicator because like I've already said, pine script is a very odd and weak language which does not have many ordinary features like useful loops, simple line drawing and even reasonable variable casting! So I was forced to use its built-in pivothigh() and pivotlow() functions without any handy documentation. I assume that even these functions don't work as expected, and because of that, I embedded "Sensitivity" and "Lookback Time" options in the indicator as a workaround. Feel free to use it and send me your comments/solutions.
Pine Script™ indicator
by informanerd
2