Volume Footprint Anomaly Scanner [PhenLabs]📊 PhenLabs - Volume Footprint Anomaly Scanner (VFAS)
Version: PineScript™ v6
📌 Description
The PhenLabs Volume Footprint Anomaly Scanner (VFAS) is an advanced Pine Script indicator designed to detect and highlight significant imbalances in buying and selling pressure within individual price bars. By analyzing a calculated "Delta" – the net difference between estimated buy and sell volume – and employing statistical Z-score analysis, VFAS pinpoints moments when buying or selling activity becomes unusually dominant. This script was created not in hopes of creating a "Buy and Sell" indicator but rather providing the user with a more in-depth insight into the intrabar volume delta and how it can fluctuate in unusual ways, leading to anomalies that can be capitalized on.
This indicator helps traders identify high-conviction points where strong market participants are active, signaling potential shifts in momentum or continuation of a trend. It aims to provide a clearer understanding of underlying market dynamics, allowing for more informed decision-making in various trading strategies, from identifying entry points to confirming trend strength.
🚀 Points of Innovation
● Z-Score for Delta Analysis : Utilizes statistical Z-scores to objectively identify statistically significant anomalies in buying/selling pressure, moving beyond simple, arbitrary thresholds.
● Dynamic Confidence Scoring : Assigns a multi-star confidence rating (1-4 stars) to each signal, factoring in high volume, trend alignment, and specific confirmation criteria, providing a nuanced view of signal strength.
● Integrated Trend Filtering : Offers an optional Exponential Moving Average (EMA)-based trend filter to ensure signals align with the broader market direction, reducing false positives in ranging markets.
● Strict Confirmation Logic : Implements specific confirmation criteria for higher-confidence signals, including price action and a time-based gap from previous signals, enhancing reliability.
● Intuitive Info Dashboard : Provides a real-time summary of market trend and the latest signal's direction and confidence directly on the chart, streamlining information access.
🔧 Core Components
● Core Delta Engine : Estimates the net buying/selling pressure (bar Delta) by analyzing price movement within each bar relative to volume. It also calculates average volume to identify bars with unusually high activity.
● Anomaly Detection (Z-Score) : Computes the Z-score for the current bar's Delta, indicating how many standard deviations it is from its recent average. This statistical measure is central to identifying significant anomalies.
● Trend Filter : Utilizes a dual Exponential Moving Average (EMA) cross-over system to define the prevailing market trend (uptrend, downtrend, or range), providing contextual awareness.
● Signal Processing & Confidence Algorithm : Evaluates anomaly conditions against trend filters and confirmation rules, then calculates a dynamic confidence score to produce actionable, contextualized signal information.
🔥 Key Features
● Advanced Delta Anomaly Detection : Pinpoints bars with exceptionally high buying or selling pressure, indicating potential institutional activity or strong market conviction.
● Multi-Factor Confidence Scoring : Each signal comes with a 1-4 star rating, clearly communicating its reliability based on high volume, trend alignment, and specific confirmation criteria.
● Optional Trend Alignment : Users can choose to filter signals, so only those aligned with the prevailing EMA-defined trend are displayed, enhancing signal quality.
● Interactive Signal Labels : Displays compact labels on the chart at anomaly points, offering detailed tooltips upon hover, including signal type, direction, confidence, and contextual information.
● Customizable Bar Colors : Visually highlights bars with Delta anomalies, providing an immediate visual cue for strong buying or selling activity.
● Real-time Info Dashboard : A clean, customizable dashboard shows the current market trend and details of the latest detected signal, keeping key information accessible at a glance.
● Configurable Alerts : Set up alerts for bullish or bearish Delta anomalies to receive real-time notifications when significant market pressure shifts occur.
🎨 Visualization
Signal Labels :
* Placed at the top/bottom of anomaly bars, showing a "📈" (bullish) or "📉" (bearish) icon.
* Tooltip: Hovering over a label reveals detailed information: Signal Type (e.g., "Delta Anomaly"), Direction, Confidence (e.g., "★★★☆"), and a descriptive explanation of the anomaly.
* Interpretation: Clearly marks actionable signals and provides deep insights without cluttering the chart, enabling quick assessment of signal strength and context.
● Info Dashboard :
* Located at the top-right of the chart, providing a clean summary.
* Displays: "PhenLabs - VFAS" header, "Market Trend" (Uptrend/Downtrend/Range with color-coded status), and "Direction | Conf." (showing the last signal's direction and star confidence).
* Optional "💡 Hover over signals for details" reminder.
* Interpretation: A concise, real-time summary of the market's pulse and the most recent high-conviction event, helping traders stay informed at a glance.
📖 Usage Guidelines
Setting Categories
⚙️ Core Delta & Volume Engine
● Minimum Volume Lookback (Bars)
○ Default: 9
○ Range: Integer (e.g., 5-50)
○ Description: Defines the number of preceding bars used to calculate the average volume and delta. Bars with volume below this average won't be considered for high-volume signals. A shorter lookback is more reactive to recent changes, while a longer one provides a smoother average.
📈 Anomaly Detection Settings
Delta Z-Score Anomaly Threshold
○ Default: 2.5
○ Range: Float (e.g., 1.0-5.0+)
○ Description: The number of standard deviations from the mean that a bar's delta must exceed to be considered a significant anomaly. A higher threshold means fewer, but potentially stronger, signals. A lower threshold will generate more signals, which might include less significant events. Experiment to find the optimal balance for your trading style.
🔬 Context Filters
Enable Trend Filter
○ Default: False
○ Range: Boolean (True/False)
○ Description: When enabled, signals will only be generated if they align with the current market trend as determined by the EMAs (e.g., only bullish signals in an uptrend, bearish in a downtrend). This helps to filter out counter-trend noise.
● Trend EMA Fast
○ Default: 50
○ Range: Integer (e.g., 10-100)
○ Description: The period for the faster Exponential Moving Average used in the trend filter. In combination with the slow EMA, it defines the trend direction.
● Trend EMA Slow
○ Default: 200
○ Range: Integer (e.g., 100-400)
○ Description: The period for the slower Exponential Moving Average used in the trend filter. The relationship between the fast and slow EMA determines if the market is in an uptrend (fast > slow) or downtrend (fast < slow).
🎨 Visual & UI Settings
● Show Info Dashboard
○ Default: True
○ Range: Boolean (True/False)
○ Description: Toggles the visibility of the dashboard on the chart, which provides a summary of market trend and the last detected signal.
● Show Dashboard Tooltip
○ Default: True
○ Range: Boolean (True/False)
○ Description: Toggles a reminder message in the dashboard to hover over signal labels for more detailed information.
● Show Delta Anomaly Bar Colors
○ Default: True
○ Range: Boolean (True/False)
○ Description: Enables or disables the coloring of bars based on their delta direction and whether they represent a significant anomaly.
● Show Signal Labels
○ Default: True
○ Range: Boolean (True/False)
○ Description: Controls the visibility of the “📈” or “📉” labels that appear on the chart when a delta anomaly signal is generated.
🔔 Alert Settings
Alert on Delta Anomaly
○ Default: True
○ Range: Boolean (True/False)
○ Description: When enabled, this setting allows you to set up alerts in TradingView that will trigger whenever a new bullish or bearish delta anomaly is detected.
✅ Best Use Cases
Early Trend Reversal / Continuation Detection: Identify strong surges of buying/selling pressure at key support/resistance levels that could indicate a reversal or the continuation of a strong move.
● Confirmation of Breakouts: Use high-confidence delta anomalies to confirm the validity of price breakouts, indicating strong conviction behind the move.
● Entry and Exit Points: Pinpoint precise entry opportunities when anomalies align with your trading strategy, or identify potential exhaustion signals for exiting trades.
● Scalping and Day Trading: The indicator’s sensitivity to intraday buying/selling imbalances makes it highly effective for short-term trading strategies.
● Market Sentiment Analysis: Gain a real-time understanding of underlying market sentiment by observing the prevalence and strength of bullish vs. bearish anomalies.
⚠️ Limitations
Estimated Delta: The script uses a simplified method to estimate delta based on bar close relative to its range, not actual order book or footprint data. While effective, it’s an approximation.
● Sensitivity to Z-Score Threshold: The effectiveness heavily relies on the `Delta Z-Score Anomaly Threshold`. Too low, and you’ll get many false positives; too high, and you might miss valid signals.
● Confirmation Criteria: The 4-star confidence level’s “confirmation” relies on specific subsequent bar conditions and previous confirmed signals, which might be too strict or specific for all contexts.
● Requires Context: While powerful, VFAS is best used in conjunction with other technical analysis tools and price action to form a comprehensive trading strategy. It is not a standalone “buy/sell” signal.
💡 What Makes This Unique
Statistical Rigor: The application of Z-score analysis to bar delta provides an objective, statistically-driven way to identify true anomalies, moving beyond arbitrary thresholds.
● Multi-Factor Confidence Scoring: The unique 1-4 star confidence system integrates multiple market dynamics (volume, trend alignment, specific follow-through) into a single, easy-to-interpret rating.
● User-Friendly Design: From the intuitive dashboard to the detailed signal tooltips, the indicator prioritizes clear and accessible information for traders of all experience levels.
🔬 How It Works
1. Bar Delta Calculation:
● The script first estimates the “buy volume” and “sell volume” for each bar. This is done by assuming that volume proportional to the distance from the low to the close represents buying, and volume proportional to the distance from the high to the close represents selling.
● How this contributes: This provides a proxy for the net buying or selling pressure (delta) within that specific price bar, even without access to actual footprint data.
2. Volume & Delta Z-Score Analysis:
● The average volume over a user-defined lookback period is calculated. Bars with volume less than twice this average are generally considered of lower interest.
● The Z-score for the calculated bar delta is computed. The Z-score measures how many standard deviations the current bar’s delta is from its average delta over the `Minimum Volume Lookback` period.
● How this contributes: A high positive Z-score indicates a bullish delta anomaly (significantly more buying than usual), while a high negative Z-score indicates a bearish delta anomaly (significantly more selling than usual). This identifies statistically unusual levels of pressure.
3. Trend Filtering (Optional):
● Two Exponential Moving Averages (Fast and Slow EMA) are used to determine the prevailing market trend. An uptrend is identified when the Fast EMA is above the Slow EMA, and a downtrend when the Fast EMA is below the Slow EMA.
● How this contributes: If enabled, the indicator will only display bullish delta anomalies during an uptrend and bearish delta anomalies during a downtrend, helping to confirm signals within the broader market context and avoid counter-trend signals.
4. Signal Generation & Confidence Scoring:
● When a delta Z-score exceeds the user-defined anomaly threshold, a signal is generated.
● This signal is then passed through a multi-factor confidence algorithm (`f_calculateConfidence`). It awards stars based on: high volume presence, alignment with the overall trend (if enabled), and a fourth star for very strong Z-scores (above 3.0) combined with specific follow-through candle patterns after a cooling-off period from a previous confirmed signal.
● How this contributes: Provides a qualitative rating (1-4 stars) for each anomaly, allowing traders to quickly assess the potential significance and reliability of the signal.
💡 Note:
The PhenLabs Volume Footprint Anomaly Scanner is a powerful analytical tool, but it’s crucial to understand that no indicator guarantees profit. Always backtest and forward-test the indicator settings on your chosen assets and timeframes. Consider integrating VFAS with your existing trading strategy, using its signals as confirmation for entries, exits, or trend bias. The Z-score threshold is highly customizable; lower values will yield more signals (including potential noise), while higher values will provide fewer but potentially higher-conviction signals. Adjust this parameter based on market volatility and your risk tolerance. Remember to combine statistical insights from VFAS with price action, support/resistance levels, and your overall market outlook for optimal results.
Confidence
TrendMasterPro_FekonomiTrend Change and Start Signals with Weighted Conditions
The Trend Change and Start Signals with Weighted Conditions indicator leverages various technical analysis tools to generate reliable buy and sell signals. This indicator helps investors more accurately identify trend changes and start signals in the market.
Features:
Utilizes popular technical analysis tools such as MACD, RSI, EMA, and Ichimoku Cloud.
Enhances signal accuracy with additional indicators like ADX and Volume Increase.
Allows users to adjust the weights of each condition to set their importance.
The Confidence Level parameter lets you adjust the accuracy rate of the signals.
Visual Signals make it easy to track buy and sell points directly on the chart.
How It Works:
Condition Weights: Users assign weights to indicators like MACD, RSI, EMA, and Ichimoku Cloud. If you have no idea, use default settings.
Condition Fulfillment: Checks if the conditions for each indicator are met.
Confidence Level: The total weight of the fulfilled conditions must exceed the user-defined confidence level.
Signal Generation: When these conditions are met, a buy or sell signal is generated and visually displayed on the chart.
Customization:
Personalize Signals: By adjusting the weights of the indicators used, you can personalize the signals to match your trading strategy and preferences.
Use Cases:
Short-Term Investments: Identify quick trend changes for short-term trading decisions.
Long-Term Investments: Detect long-term trend starts and changes for strategic investment decisions.
Technical Analysis: Combine different technical analysis tools for more comprehensive and reliable analyses.
With this indicator, you can better understand market movements and make more informed investment decisions. Try it now and enhance your trading strategy!
by Fekonomi
Alpine Predictive BandsAlpine Predictive Bands - ADX & Trend Projection is an advanced indicator crafted to estimate potential price zones and trend strength by integrating dynamic support/resistance bands, ADX-based confidence scoring, and linear regression-based price projections. Designed for adaptive trend analysis, this tool combines multi-timeframe ADX insights, volume metrics, and trend alignment for improved confidence in trend direction and reliability.
Key Calculations and Components:
Linear Regression for Price Projection:
Purpose: Provides a trend-based projection line to illustrate potential price direction.
Calculation: The Linear Regression Centerline (LRC) is calculated over a user-defined lookbackPeriod. The slope, representing the rate of price movement, is extended forward using predictionLength. This projected path only appears when the confidence score is 70% or higher, revealing a white dotted line to highlight high-confidence trends.
Adaptive Prediction Bands:
Purpose: ATR-based bands offer dynamic support/resistance zones by adjusting to volatility.
Calculation: Bands are calculated using the Average True Range (ATR) over the lookbackPeriod, multiplied by a volatilityMultiplier to adjust the width. These shaded bands expand during higher volatility, guiding traders in identifying flexible support/resistance zones.
Confidence Score (ADX, Volume, and Trend Alignment):
Purpose: Reflects the reliability of trend projections by combining ADX, volume status, and EMA alignment across multiple timeframes.
ADX Component: ADX values from the current timeframe and two higher timeframes assess trend strength on a broader scale. Strong ADX readings across timeframes boost the confidence score.
Volume Component: Volume strength is marked as “High” or “Low” based on a moving average, signaling trend participation.
Trend Alignment: EMA alignment across timeframes indicates “Bullish” or “Bearish” trends, confirming overall trend direction.
Calculation: ADX, volume, and trend alignment integrate to produce a confidence score from 0% to 100%. When the score exceeds 70%, the white projection line is activated, underscoring high-confidence trend continuations.
User Guide
Projection Line: The white dotted line, which appears only when the confidence score is 70% or higher, highlights a high-confidence trend.
Prediction Bands: Adaptive bands provide potential support/resistance zones, expanding with market volatility to help traders visualize price ranges.
Confidence Score: A high score indicates a stronger, more reliable trend and can support trend-following strategies.
Settings
Prediction Length: Determines the forward length of the projection.
Lookback Period: Sets the data range for calculating regression and ATR.
Volatility Multiplier: Adjusts the width of bands to match volatility levels.
Disclaimer: This indicator is for educational purposes and does not guarantee future price outcomes. Additional analysis is recommended, as trading carries inherent risks.
Excel Confidence %Excel Confidence %
Ranges between 0 and 100, usually at the extreme end of the scale.
A value of 0 indicates an unlikely move up, while 100 indicates a high probability of a rise.
You can try to use a slower version of the indicator (replacing 7 and 15 in the formula 3 and 5, respectively, and trade intersections, like stochastics.
You can also trade levels buy at values of 90 and above, sell at 10 and below.
Scoring Development Sample [BigBitsIO]This script shows a sample of how to do confidence weighted scoring indicators and for loops with Pine. This indicator may or may not be found useful, it's intent is to provide a sample on how to create such an indicator and use certain Pine features.
Features:
- Defined points based on the confidence of RSI and Stochastic indicator
- Defined points based on candle color and sma trend direction
- For loops used to calculate bonus points for "extended periods" of confidence.
*** DISCLAIMER: For educational and entertainment purposes only. Nothing in this content should be interpreted as financial advice or a recommendation to buy or sell any sort of security or investment including all types of crypto. DYOR, TYOB. ***
