OPEN-SOURCE SCRIPT
PDH/PDL + Absorption ("Iceberg" Proxy)
Plots prior-day high/low and flags potential absorption (iceberg-style) activity at those levels: bars with abnormally high volume but abnormally tight range, occurring near a key level. High volume with little price movement suggests large resting orders are absorbing aggression without letting the level break — a classic footprint ahead of either a rejection or an eventual breakout once the absorbed side gives up.
What it plots
- Prior Day High (red line) / Prior Day Low (green line)
- Optional Premarket High/Low (orange/blue circles, 4:00–9:30 ET, off by default)
- Fuchsia triangle + "ABS" label with volume printed, on any bar flagged as absorption
Signal logic
A bar is flagged when all conditions are met:
1. Volume > user-defined multiple of its N-bar average (default 1.8x over 20 bars)
2. Range (high−low) < user-defined multiple of its N-bar average (default 0.6x over 20 bars)
3. (Optional, on by default) Close is within a user-defined tolerance of PDH or PDL
Inputs
- Show Prior Day High/Low — toggle
- Show Premarket High/Low — toggle
- Level Proximity Tolerance (points) — how close price must be to PDH/PDL to qualify; scale this to your instrument's typical range (tighter for MES/M2K, wider for ES/RTY)
- Volume Lookback / Range Lookback (bars) — averaging windows
- Volume Threshold (x average) — higher = rarer, stronger signals
- Range Threshold (x average) — lower = requires tighter compression
- Only Flag Near PDH/PDL — restrict signal to key levels vs. anywhere on chart
How to use it
This is a confirmation tool, not an entry trigger. An ABS flag at PDH/PDL means volume is being absorbed at that level without a clean break — treat it as "this level is being defended right now." Wait for the next bar(s) to resolve:
- Close pushes through the level on continued volume → likely real break, absorption failed
- Price rejects back away from the level → absorption held, fade back into range
An alert condition ("Absorption/Iceberg Detected") is included — right-click the indicator on the chart → Add Alert to get notified instead of watching manually.
Notes
- PDH/PDL are computed via request.security on the daily timeframe with lookahead_off, so they won't repaint.
- Defaults are a reasonable starting point, not calibrated to any specific instrument — backtest/observe before trusting the thresholds on a new symbol.
- Not a "true" iceberg indicator because it infers absorption from OHLCV (high volume + tight range) rather than reading the actual order book, so it can't confirm a hidden order exists — but it's a useful free proxy for spotting "high effort, low result" zones worth watching, especially layered with PDH/PDL, VWAP, or GEX levels.
What it plots
- Prior Day High (red line) / Prior Day Low (green line)
- Optional Premarket High/Low (orange/blue circles, 4:00–9:30 ET, off by default)
- Fuchsia triangle + "ABS" label with volume printed, on any bar flagged as absorption
Signal logic
A bar is flagged when all conditions are met:
1. Volume > user-defined multiple of its N-bar average (default 1.8x over 20 bars)
2. Range (high−low) < user-defined multiple of its N-bar average (default 0.6x over 20 bars)
3. (Optional, on by default) Close is within a user-defined tolerance of PDH or PDL
Inputs
- Show Prior Day High/Low — toggle
- Show Premarket High/Low — toggle
- Level Proximity Tolerance (points) — how close price must be to PDH/PDL to qualify; scale this to your instrument's typical range (tighter for MES/M2K, wider for ES/RTY)
- Volume Lookback / Range Lookback (bars) — averaging windows
- Volume Threshold (x average) — higher = rarer, stronger signals
- Range Threshold (x average) — lower = requires tighter compression
- Only Flag Near PDH/PDL — restrict signal to key levels vs. anywhere on chart
How to use it
This is a confirmation tool, not an entry trigger. An ABS flag at PDH/PDL means volume is being absorbed at that level without a clean break — treat it as "this level is being defended right now." Wait for the next bar(s) to resolve:
- Close pushes through the level on continued volume → likely real break, absorption failed
- Price rejects back away from the level → absorption held, fade back into range
An alert condition ("Absorption/Iceberg Detected") is included — right-click the indicator on the chart → Add Alert to get notified instead of watching manually.
Notes
- PDH/PDL are computed via request.security on the daily timeframe with lookahead_off, so they won't repaint.
- Defaults are a reasonable starting point, not calibrated to any specific instrument — backtest/observe before trusting the thresholds on a new symbol.
- Not a "true" iceberg indicator because it infers absorption from OHLCV (high volume + tight range) rather than reading the actual order book, so it can't confirm a hidden order exists — but it's a useful free proxy for spotting "high effort, low result" zones worth watching, especially layered with PDH/PDL, VWAP, or GEX levels.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.