This is a support indicator to the Main Indicator which has also been published.
This is a list of a number of indicators which cover trend, momentum and . The key is very simple for this indicator, green is a long trade, red is a short trade and grey is an indicator which may be transitioning. The indicators uses are: , PSAR, , , Momentum and . All of the settings are customisable within the indicator and the user can best fit these around their charts. The simplicity of the heat map is that the more of one colour there is, the more likely it is that a trade can be placed.
I've been using this successfully on the one hour FX charts, but seems to work equally as well on higher or lower time frames (not less than 15min).
The other indicators which are part of the suite are shown on the website which is highlighted in my signature at the bottom of the page. Purchase of the main indicator gives access to the full suite of eight indicators. I use the other indicators to confirm the direction of the trade and to determine if I want to trade or not. I use it along with the 2min, 15min and 4hr timeframes to identify the best entry window and how long I'm likely to be in the trade.
Support can be provided via private message or in the comments below.
The links are provided below for access to the indicator.
When there are at least six greens in a vertical line, this would indicate a buy signal. When there at least five reds/grays in a vertical line this would indicate a buy exit point.
Similarly, when there are at least six reds in a vertical line, this would indicate a sell signal. When there at least five greens/grays in a vertical line this would indicate a sell exit point.
The heat map is great for those basic users of Trading View who can get a snapshot multiple indicators and decide/determine to make a trade.
The heat map can be used with the main indicator to confirm if a buy or sell signal is valid or not.
Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact Mikeo82 for more information, or follow the author's instructions below.
TradingView does not suggest paying for a script and using it until you 100% trust its author and understand how the script works. In many cases you can find a good open-source alternative for free in our Public Library.
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Content on how to use the indicators can also be found on there.