ZenAlgo - Heavy Delta Indicator
Welcome to the Heavy Delta indicator documentation. Here you'll find details on how to use this indicator to maximize your trading performance.
Features
📄️ Order Blocks
In trading, an Order Block is a significant price zone where large financial institutions (such as banks or hedge funds) have placed substantial buy or sell orders. These blocks signal strong buying or selling interest and are key areas for potential reversals or continuations.
📄️ Moving Averages (MA)
ZenAlgo's Moving Averages (MA) feature includes four fully customizable MAs, allowing for a flexible assessment of market trends and momentum. MAs smooth out price data to reveal the market's underlying trend. By averaging price movements, MAs reduce noise, making market behaviors easier to visualize.
📄️ PVSRA Candles
ZenAlgo includes a unique feature called PVSRA Candlestick Coloring, which enhances the way you visualize market activity by integrating Price, Volume, and Support/Resistance Analysis (PVSRA). This system helps traders understand the actions of "smart money" by looking at the relationship between price movement, volume, and significant price levels.
📄️ Flags and Rockets Symbols
ZenAlgo's Flags (🚩) and Rockets (🚀) symbols are powerful visual cues that indicate potential points of entry for traders, highlighting price reactions around Order Blocks. These symbols help traders easily spot areas where the market may be preparing for a strong reversal or continuation.
📄️ Delta Symbols
Delta in trading measures the difference between buying volume and selling volume over a specific timeframe, indicating whether buyers or sellers were more aggressive during that period.
📄️ Blue and White Diamonds
The blue and white diamonds in your ZenAlgo indicator serve as powerful visual signals, highlighting key market dynamics based on Delta divergence and Wave Trend conditions. These diamonds help traders identify potential reversal zones and entry opportunities.
📄️ Strong Symbols
The Strong Symbols in this Pine Script represent significant market events that combine multiple indicators, providing strong signals for potential market entries or reversals. Each symbol is carefully crafted to show either a bullish or bearish sentiment, and they're meant to be easy-to-spot signals that highlight important opportunities.
📄️ AVG Indicator
The AVG indicator in ZenAlgo is an adaptive level of support and resistance, uniquely calculated using K-Nearest Neighbors (KNN), a machine learning algorithm. It acts as a dynamic reference point that evolves with market movements, providing a reliable benchmark for price action analysis.
📄️ Daily Open Indicator
The Daily Open is the price level at which the market "opened" for the day. By marking this point on the chart, traders gain a baseline reference for all subsequent price movements during that day. It allows for a quick understanding of whether the market is trading above or below the starting price of the trading session.
📄️ Monday Range Indicator
The Monday Range represents the highest and lowest prices achieved during Monday's trading session. These levels often serve as critical reference points for the rest of the week, helping traders gauge the market's initial direction.
📄️ VWAP Indicator
The Volume-Weighted Average Price (VWAP) is a technical indicator that provides a price level weighted by the volume traded at different price points. Unlike a simple average price line, VWAP takes into account the amount of trading activity at each price level, making it more "volume-aware." 📊 Traders often use VWAP as a benchmark for identifying the "average" trader's position for the current session.