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Smart money PSP with color themes
PSP with Color Themes — Price Strength Parity Indicator
PSP with Color Themes is a visual correlation indicator designed to detect Price Strength Parity (PSP) between the current chart symbol and a reference symbol.
It highlights candles where price behavior between two correlated instruments diverges or aligns, which is often used in SMT (Smart Money Technique) and intermarket analysis.
The indicator works directly on the chart and colors candles when a PSP condition is detected, using flexible and customizable color themes.
📌 What Is PSP (Price Strength Parity)?
PSP identifies situations where two correlated assets:
Move in opposite directions → Direct PSP (classic SMT divergence)
Move in the same direction → Inverse PSP (confirmation mode)
Such behavior often precedes:
⚙️ Indicator Inputs
Reference Symbol
Defines the second asset used for comparison (e.g., ETHUSDT vs BTCUSDT).
Purpose:
To detect relative strength or weakness between two correlated markets.
Inverse Correlation Mode
Inverse Correlation Mode (true / false)
Allows switching between divergence-based and confirmation-based analysis.
Color Theme
Available presets:
Purpose:
Adapts the indicator visually to different chart styles and backgrounds.
📈 How to Use in Trading
Typical use cases:
Recommended combinations:
⚠️ Important Notes
PSP is context-based, not a standalone entry system
Best results on correlated markets:
PSP with Color Themes is a visual correlation indicator designed to detect Price Strength Parity (PSP) between the current chart symbol and a reference symbol.
It highlights candles where price behavior between two correlated instruments diverges or aligns, which is often used in SMT (Smart Money Technique) and intermarket analysis.
The indicator works directly on the chart and colors candles when a PSP condition is detected, using flexible and customizable color themes.
📌 What Is PSP (Price Strength Parity)?
PSP identifies situations where two correlated assets:
Move in opposite directions → Direct PSP (classic SMT divergence)
Move in the same direction → Inverse PSP (confirmation mode)
Such behavior often precedes:
- Reversals
- Continuations
- Liquidity grabs
- Market structure shifts
⚙️ Indicator Inputs
Reference Symbol
Defines the second asset used for comparison (e.g., ETHUSDT vs BTCUSDT).
Purpose:
To detect relative strength or weakness between two correlated markets.
Inverse Correlation Mode
Inverse Correlation Mode (true / false)
Allows switching between divergence-based and confirmation-based analysis.
Color Theme
Available presets:
- Green / Red
- Blue / Orange
- Purple / Yellow
- Teal / Pink
- Custom
Purpose:
Adapts the indicator visually to different chart styles and backgrounds.
📈 How to Use in Trading
Typical use cases:
- SMT divergence detection
- Intermarket confirmation
- Reversal timing
- Liquidity sweep context
- SMC / ICT models
Recommended combinations:
- Market Structure (BOS / CHoCH)
- Fair Value Gaps
- Liquidity levels
- Session highs /lows
⚠️ Important Notes
PSP is context-based, not a standalone entry system
Best results on correlated markets:
- BTC / ETH
- Indices (ES / NQ / YM)
- FX pairs (EURUSD / DXY)
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
Телеграм канал с ежедневной аналитикой и сигналами:
👉 t.me/+F73IczJII442NGMy
Самые низкие комиссии для вас на bingX:
👉bingx.com/invite/maniacdt/
Бесплатный альткоин сканнер:
👉 t.me/altcoin_scannerbot
👉 t.me/+F73IczJII442NGMy
Самые низкие комиссии для вас на bingX:
👉bingx.com/invite/maniacdt/
Бесплатный альткоин сканнер:
👉 t.me/altcoin_scannerbot
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
Телеграм канал с ежедневной аналитикой и сигналами:
👉 t.me/+F73IczJII442NGMy
Самые низкие комиссии для вас на bingX:
👉bingx.com/invite/maniacdt/
Бесплатный альткоин сканнер:
👉 t.me/altcoin_scannerbot
👉 t.me/+F73IczJII442NGMy
Самые низкие комиссии для вас на bingX:
👉bingx.com/invite/maniacdt/
Бесплатный альткоин сканнер:
👉 t.me/altcoin_scannerbot
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。