Bull Bear Volume Oscillator (Idea in the making)
I want you guys and gals to add in your question and comments below.
There are certain things id like to new oscillator to do for you but i want to know in what ways it can be better like if it seems to be missing something.
However. That being said, if you think its good the way it is, then by all means, let it be done and ill release it ASAP.
This is the Bull Bear Power Volume Oscillator.
It shows you TREND DIRECTIONS.
A bullish trend is not defined until you have higher highs and higher lows of the same green color .
A bearish trend is not defined until you have lower lows and lower highs of the same red color .
There is also a CENTER area which is clouded called "The Void". Any action closing in this area is null and taken as
A) Market is ranging.
and or
B) There is not enough opposing volume to move the market either way.
it is not until you get a high or low OUTSIDE of this area, where you should consider a trade.
Also, any action taking place outside of the VOID is considered a higher volatity in the market. Anything INSIDE the void is an extremely LOW volati
SOURCE - You can choose the source to be anything else that exists on your chart, for example, the RSI from a different indicator or a particular moving average you have plotted on your chart.
For those who have trouble seeing a divergence between momentum (RSI) or (Stochastic RSI) and your price action on your chart, this should paint a more clearer picture for you.
A long red column is obviously a LOW
and a long green column is obviously a High but what you should be looking for is the end of the WICK and not the color of the candle.
Again this is an early set of information for this indicator. Id like to get your feedback on it.
There are certain things id like to new oscillator to do for you but i want to know in what ways it can be better like if it seems to be missing something.
However. That being said, if you think its good the way it is, then by all means, let it be done and ill release it ASAP.
This is the Bull Bear Power Volume Oscillator.
It shows you TREND DIRECTIONS.
A bullish trend is not defined until you have higher highs and higher lows of the same green color .
A bearish trend is not defined until you have lower lows and lower highs of the same red color .
There is also a CENTER area which is clouded called "The Void". Any action closing in this area is null and taken as
A) Market is ranging.
and or
B) There is not enough opposing volume to move the market either way.
it is not until you get a high or low OUTSIDE of this area, where you should consider a trade.
Also, any action taking place outside of the VOID is considered a higher volatity in the market. Anything INSIDE the void is an extremely LOW volati
SOURCE - You can choose the source to be anything else that exists on your chart, for example, the RSI from a different indicator or a particular moving average you have plotted on your chart.
For those who have trouble seeing a divergence between momentum (RSI) or (Stochastic RSI) and your price action on your chart, this should paint a more clearer picture for you.
A long red column is obviously a LOW
and a long green column is obviously a High but what you should be looking for is the end of the WICK and not the color of the candle.
Again this is an early set of information for this indicator. Id like to get your feedback on it.
