Traders Reality indicator
This indicator serves as the Tradingview equivalent of an MT4 indicator suite.
It differentiates from existing TV indicators in its style and total feature set (most notably PVSRA and PVSRA Override)
It was originally designed for forex markets, and it will work for crypto as well, but it has not been tested on stocks.
List of features:
- PVSRA Candles
- Market boxes (NY/JP/ HK /UK/ FR and Brinks Boxes)
- 5/13/50/200/800 EMAs (cloud for 50EMA)
- Pivot points (S/M/R 1,2,3; PP )
- Yesterday and Last Week price range
- Average Daily Range (Weekly and Monthly as well)
- Daily Open
- PVSRA Override
All of these are configurable in the indicator settings.
Usage instructions:
PVSRA Candle colors meaning:
Green (bull) and red (bear): Candles with volume >= 200% of the average volume of the 10 previous chart candles, and candles where the product of candle spread x candle volume is >= the highest for the 10 previous chart time candles.
Blue (bull) and blue-violet (bear): Candles with volume >= 150% of the average volume of the 10 previous chart candles
PVSRA Override
In order to get reliable bar coloring, we need accurate data. If you're on a chart with low volume on some obscure exchange, you may want to use another exchanges datafeed for the symbol you are on to calculate the PVSRA bar colors with. This lets you do exactly that. By default it's off, but you can turn it on and use INDEX:BTCUSD, or really any other chart you want. You can combine charts too, e.g. use BINANCE:BTCUSDT+COINBASE:BTCUSD.
PVSRA Alerts
Alerts can be made for PVSRA "vector"/"climax" candles:
1. Create Alert (Clock with + sign)
2. Set Condition: "Traders Reality",
3. Select "Alert on Vector Candle",
4. Set it to Once per Bar,
5. choose your notification options.
Market boxes
The market boxes times are configurable and will change depending on the exchange timezone. I recommend to pick your main exchange/chart and adjust the times so that they are correct. Technically you will need to shift the time from the exchanges' timezone to GMT . Default values should be good for UTC based exchanges in current US+UK summer time.
Recommended additional Tradingview indicator(s):
- TDI - Goldminds, Edited for Market Makers Method by Jakub Donovan
Footnotes
The code was originally by plasmapug, continued development (with permission) is now done by infernix and peshocore.
If you have suggestions or questions, you can message me or leave a comment.
Previous changelog (while it was private):
- Mar 27 2021 Release Notes: dropped the inputs for the session boxes, no need to set any colors there
- Mar 29 2021 Release Notes: Reworked the level drawing. Should work on all timeframes below daily now. Updated ADR level calculations to match with Tinos MT4 setup.
- Mar 29 2021 Release Notes: Added configurable label offset (thanks Hud ). Add config option for pivot level extension to the left. Add option to hide ADR range
- Mar 31 2021 Release Notes: Implemented PVSRA according to MT4 algorithm. Disabled market boxes on 3min, to be fixed later. Relabeled yesterday high. Colored market boxes.
- Mar 31 2021 Release Notes: Clean up the market range boxes so that lines don't block wick visibility. Shift opening range to the first hour and make it configurable. Clean up configuration
- Apr 2 2021 Release Notes: Added a session for Sydney. Update Sydney time. Add PVSRA calculation symbol override.
- Apr 3 2021 Release Notes: No lookahead on PVSRA, should fix strangeness with candle colors. Added crypto weekly high according to Tinos range. May need some additional tuning.
- Apr 5 2021 Release Notes: Another attempt at fixing PVSRA candle color issues. Start of refactoring. Adjusted crypto weekly math (still not exactly correct but getting there). Fixed pivot labels rendering at price 0.0 when levels not enabled
- Apr 5 2021 Release Notes: Fix rendering in the 1 minute timeframe
- Apr 8 2021 Release Notes: Transparency for pivot point lines (configurable color too). Conversion to functions by the great peshocore (thx!). Toggles for ADR AWR AMR . Updated psy low/high math
- Jun 2 2021 Release Notes: Long overdue update, but no fundamental changes. Removed the psy/crypto weekly high/low due to its inaccuracy. You should put these lines on your chart manually. AWR does not show up by default, can be re-enabled in settings. Switched to f_security; this should resolve the redrawing of M levels together with the next update. Altered line drawing functions so that they update once the day rolls over, should fix the updating of M levels after midnight (Exchange time)
- Jun 9 2021 Release Notes:Update pivot and M level update mechanism. Fixed ADR math, should now match MT4 more closely
- Jun 10 2021 Release Notes: You can now create alerts on vector candles using the "Alert on vector candle" alert condition.
- Jun 17 2021 Release Notes:Sync EMA color settings with EMA labels. Some bugfixes related to pivot and M levels, paritcularly M1
- Jun 17 2021 Release Notes: Cosmetic fix (keep EMAs editable), no functional change
- Jun 24 2021 Release Notes: Make session boxes configurable (color/opacity). Add daily open. Add bb rinks boxes
- Jun 30 2021 Release Notes:. Add Frankfurt session
- Jul 2 2021 Relase Notes: You can now en/disable each individual market box, its label, and its opening range
