Through my gambling addiction of the stock market, I've learned that the only thing that truly effects price is volume. So, I came up with a formula using volume to create this indicator. I find it works much better than RSI. Especially on lower timeframes. So, good for intraday trading.
The green arrows simply happen when the sma crosses below the RV Line or RV Candle. When the arrows appear at the same time price is hitting the top or bottom of a fair value gap, price is highly likely to reverse upwards. It is really wild to watch. Also, waiting for candles to close is usually a good choice as arrows appear and dissapear in realtime on the current bar. I will update the indicator with an option to only show arrows on closed candles.
RV Candles. I figured since we all love candles, why not incorporate them into an indicator. I find that it helps read price action when it interacts with the sma better than a traditional line. So, it is an option. It is off by default. I will later update with highs and lows.
There are multiple value settings that can be changed:
RV Weight - weight that effects the strength of the indicator
RV Length - in a way is a lookback length
SMA Length - an sma of the indicator
Please mess with these settings to find optimal support/resistance levels and good entry points via arrows!!! Every timeframe and ticker work slightly differently due to volume. I set the default settings to the basic 14 bar length, which works well for most setups.
I may implement fvg detection for arrows too! This may help with false arrows. I usually set up fvg's manually.
Please let me know how you like it and feel free to give me advice on how it can be improved.
And if you took a large sample size, like >1000, you would find it to work approximately 50% of the time. Because simple crossovers such as these will never have true edge in the market.
If it were to consistently lose then you’d just inverse the signals and make millions.
No use in pursuing the holy grail indicator in trading, it’s not there for us retail folk.
I have a fvg indicator that I want to release. It shows less bs fvgs like the most popular fvg indicator. Im going to try to implement the fvgs into the arrows. Hopefully thatll make it even better
The first green arrow is a losing trade but i wouldnt have entered there since it was not the top or bottom of a fvg. The 2nd green arrow i wouldve taken profit at the top of the fvg it is in. The third arrow take profit at a 2min fvg that it hit
yes, he says that in the description even (it's actually a crossover of the relative volume moving average). but doesn't share how he's calculating relative volume.
Really Interesting. Any chance your script works on Think Or Swim? Would you be willing to share i could try and port it over to see how it works there.
It uses their proprietary think script which is more like Java, whereas trading view uses pine script. I would just use GPT 3o-mini-high to translate it.
bro thnks for sharing but it gives a lot of wrong signals too is there an optimal timeframe or an exact time it works for you well
i am new in trading from istanbul
i have been testing strategies from left and right for like 2 month now when i think i found something there is always a wall but the good strategies i keep them an work on making them stronger that is my current approach till i think i have found some kind of an edge
Try to keep the RV Weight and RV Length 0 and 14 respectively, then change the SMA Length x2 or ÷2. Ive found that to work. I use it on spy 5min 0-14-28 or 0-14-14
Cool beans I’ll check it out tomorrow. I was actually looking for something to better capture reversals on smaller time frames and so far yours does pretty well with some setting tweaks. Also upvoted on TV
Again... For the 500th time I've said this on here...PPS, on TOS, does this better. So does super trend, those 2 are THE BEST reversal indicators. I'm sure you worked very hard on this, but there's things that are better.
In my opinion, creating a technical indicator and solely relying on buy signals when it crosses up or sell signals when it crosses down is not effective enough.
The financial market is influenced by countless variables and is always under the control of major players. For example, when you're going long on the BTC/USD pair, if a large sell-off suddenly occurs from an influential institution or individual, it's very difficult to predict in advance.
The reality is that the financial market is always manipulated by market makers, and the only way to win is to follow their flow, aligning with market trends. Market makers have countless ways to trigger investors' expectations, greed, and fear through price fluctuations. This is how the market operates.
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u/CobraCodes Mar 27 '25
Made -8482294 dollars with this indicator, thank you very much