Scatter — Indicators and Strategies

Scatter Plot The Price Volume Scatter Plot publication aims to provide intrabar detail as a Scatter Plot . 🔶 USAGE A dot is drawn at every intrabar close price and its corresponding volume , as can seen in the following example: Price is placed against the white y-axis, where volume is represented on the orange x-axis. 🔹 More detail A Scatter Plot can be beneficial because it shows more detail compared with a Volume Profile (seen at the right of the Scatter Plot). The Scatter Plot is accompanied by a "Line of Best Fit" (linear regression line) to help identify the underlying direction, which can be helpful in interpretation/evaluation. It can be set as a screener by putting multiple layouts together. 🔹 Easier Interpretation Instead of analysing the 1-minute chart together with volume, this can be visualised in the Scatter Plot, giving a straightforward and easy-to-interpret image of intrabar volume per price level. One of the scatter plot's advantages is that volumes at the same price level are added to each other. A dot on the scatter plot represents the cumulated amount of volume at that particular price level, regardless of whether the price closed one or more times at that price level. Depending on the setting "Direction" , which sets the direction of the Volume-axis, users can hoover to see the corresponding price/volume. 🔹 Highest Intrabar Volume Values Users can display up to 5 last maximum intrabar volume values, together with the intrabar timeframe (Res) 🔹 Practical Examples When we divide the recent bar into three parts, the following can be noticed: Price spends most of its time in the upper part, with relative medium-low volume, since the intrabar close prices are mostly situated in the upper left quadrant. Price spends a shorter time in the middle part, with relative medium-low volume. Price moved rarely below 61800 (the lowest part), but it was associated with high volume. None of the intrabar close prices reached the lowest area, and the price bounced back. In the following example, the latest weekly candle shows a rejection of the 45.8 - 48.5K area, with the highest volume at the 45.8K level. The next three successive candles show a declining maximum intrabar volume, after which the price broke through the 45.8K area. 🔹 Visual Options There are many visual options available. 🔹 Change Direction The Scatter Plot can be set in 4 different directions. 🔶 NOTES 🔹 Notes The script uses the maximum available resources to draw the price/volume dots, which are 500 boxes and 500 labels. When the population size exceeds 1000, a warning is provided ( Not all data is shown ); otherwise, only the population size is displayed. The Scatter Plot ideally needs a chart which contains at least 100 bars. When it contains less, a warning will be shown: bars < 100, not all data is shown 🔹 LTF Settings When 'Auto' is enabled ( Settings , LTF ), the LTF will be the nearest possible x times smaller TF than the current TF. When 'Premium' is disabled, the minimum TF will always be 1 minute to ensure TradingView plans lower than Premium don't get an error. Examples with current Daily TF (when Premium is enabled): 500 : 3 minute LTF 1500 (default): 1 minute LTF 5000: 30 seconds LTF (1 minute if Premium is disabled) 🔶 SETTINGS Direction: Direction of Volume-axis; Left, Right, Up or Down 🔹 LTF LTF: LTF setting Auto + multiple: Adjusts the initial set LTF Premium: Enable when your TradingView plan is Premium or higher 🔹 Character Character: Style of Price/Volume dot Fade: Increasing this number fades dots at lower price/volume Color 🔹 Linear Regression Toggle (enable/disable), color, linestyle Center Cross: Toggle, color 🔹 Background Color Fade: Increasing this number fades the background color near lower values Volume: Background color that intensifies as the volume value on the volume-axis increases Price: Background color that intensifies as the price value on the price-axis increases 🔹 Labels Size: Size of price/volume labels Volume: Color for volume labels/axis Price: Color for price labels/axis Display Population Size: Show the population size + warning if it exceeds 1000 🔹 Dashboard Location: Location of dashboard Size: Text size Display LTF: Display the intrabar Lower Timeframe used Highest IB volume: Display up to 5 previous highest Intrabar Volume values

RSI Impact Heat Map [Trendoscope]Here is a simple tool to measure and display outcome of certain RSI event over heat map. 🎲 Process 🎯Event Event can be either Crossover or Crossunder of RSI on certain value. 🎯Measuring Impact Impact of the event after N number of bars is measured in terms of highest and lowest displacement from the last close price. Impact can be collected as either number of times of ATR or percentage of price. Impact for each trigger is recorded separately and stored in array of custom type. 🎯Plotting Heat Map Heat map is displayed using pine tables. Users can select heat map size - which can vary from 10 to 90. Selecting optimal size is important in order to get right interpretation of data. Having higher number of cells can give more granular data. But, chart may not fit into the window. Having lower size means, stats are combined together to get less granular data which may not give right picture of the results. Default value for size is 50 - meaning data is displayed in 51X51 cells. Range of the heat map is adjusted automatically based on min and max value of the displacement. In order to filter out or merge extreme values, range is calculated based on certain percentile of the values. This will avoid displaying lots of empty cells which can obscure the actual impact. 🎲 Settings Settings allow users to define their event, impact duration and reference, and few display related properties. The description of these parameters are as below: 🎲 Use Cases In this script, we have taken RSI as an example to measure impact. But, we can do this for any event. This can be price crossing over/under upper/lower bollinger bands, moving average crossovers or even complex entry or exit conditions. Overall, we can use this to plot and evaluate our trade criteria. 🎲 Interpretation Q1 - If more coloured dots appear on the top right corner of the table, then the event is considered to trigger high volatility and high risk environment. Q2 - If more coloured dots appear on the top left corner, then the events are considered to trigger bearish environment. Q3 - If more coloured dots appear on the bottom left corner of the chart, then the events are considered insignificant as they neither generate higher displacement in positive or negative side. You can further alter outlier percentage to reduce the bracket and hence have higher distribution move towards Q4 - If more coloured dots appear on the bottom right corner, then the events are considered to trigger bullish environment. Will also look forward to implement this as library so that any conditions or events can be plugged into it.

example: Event Statistics EXPERIMENTAL: A example on how to retrieve statistics from a recurring event. Can be used to optimized strategy's, trade parameters, etc..

Example: Graph style - 4th Dimension RSI EXPERIMENTAL: Drawing RSI in the 4th dimension(time). It shows the fluctuations of the RSI and price change over a period of time(10) in a scatter like graph. there is a inversion of axis to make possible graphing the 2 properties.