OPEN-SOURCE SCRIPT
VOLD Confluence Table [MMT]
VOLD Confluence Table [MMT] is a compact market-internals dashboard that overlays directly on your main chart and summarizes VOLD, ADD, and TICK into a single, tradeable bias signal and day-type read.
What this indicator shows
All three are pulled into a 3‑column table (Label / Value / Signal) plus rows for VOLD trend vs SMA, day type (Trend / Chop / Responsive), and an overall bias + 0–6 confluence score.
Core logic and signals
How to use it intraday
Pre-session / first 30–60 minutes
During the session
Use the TYPE row:
Watch VOLD Δ (EXPANDING / CONTRACTING / FLAT) to confirm whether a move in your index is being reinforced by broad volume or starting to lose pressure.
Risk and filter use-cases
SMA Filter:
Alerts
The script includes alert conditions for key regime shifts so you do not have to stare at the table all day:
These can be tied to popups, sounds, or webhooks so your automation or discretionary workflow can react when internals meaningfully change state.
What this indicator shows
- VOLD : measures whether volume is flowing into advancing or declining stocks on the exchange, giving you the “horsepower” behind the move.
- ADD: tracks how many stocks are advancing vs declining, giving a breadth read on participation.
- TICK: looks at how many stocks are ticking up vs ticking down right now, acting as a very short-term sentiment and momentum gauge.
All three are pulled into a 3‑column table (Label / Value / Signal) plus rows for VOLD trend vs SMA, day type (Trend / Chop / Responsive), and an overall bias + 0–6 confluence score.
Core logic and signals
- Bull/bear scores are built from six binary conditions each (VOLD sign, strong VOLD, ADD sign, strong ADD, TICK sign, TICK momentum levels). When 5+ of the bull (or bear) conditions align, the indicator flags a potential “Trend Day” in that direction; 4 gives “High Confidence” bias, while low scores on both sides classify the session as “Chop.”
- A VOLD SMA filter on a higher timeframe (default 5‑min) labels whether VOLD is ABOVE or BELOW its SMA and applies a “freight train” rule: strong expanding VOLD above SMA triggers “🚂 NO SHORT,” strong contracting VOLD below SMA triggers “🚂 NO LONG,” discouraging fades against a powerful breadth/volume trend.
- Divergence logic highlights when ADD and VOLD disagree (e.g., ADD bullish while VOLD is negative), which often signals distribution/absorption or unstable internals; these are labeled as divergence with a caution bias.
How to use it intraday
Pre-session / first 30–60 minutes
- Watch the BIAS row and score: a quick push to 4–6 on one side with “✦ TREND” TYPE suggests you lean with that side for the day (buy pullbacks in bull trend, sell bounces in bear trend).
- Check the SMA row: “🚂 NO SHORT” or “🚂 NO LONG” means avoid fading the index just because it feels extended; treat counter‑trend scalp ideas as lower probability.
During the session
Use the TYPE row:
- “✦ TREND” → favor continuation setups, avoid fighting the dominant side.
- “✕ CHOP” → stand down on trend assumptions, consider mean‑reversion or smaller size.
- “◈ RESPONSIVE” → market is two‑sided; treat both extremes carefully and rely more on local structure.
Watch VOLD Δ (EXPANDING / CONTRACTING / FLAT) to confirm whether a move in your index is being reinforced by broad volume or starting to lose pressure.
Risk and filter use-cases
- Use “Chop Detected” / low confluence as a filter to reduce size or skip marginal setups when internals show no clear edge.
- Use divergence alerts (ADD vs VOLD) as a reason to tighten risk or take partials if you are heavily positioned and internals stop agreeing with the move.
SMA Filter:
- VOLD SMA Length (default 10)
- VOLD SMA Timeframe (default 5‑minute)
- Shorter lengths or timeframes make the freight-train bias more reactive; longer settings smooth out noise.
Alerts
The script includes alert conditions for key regime shifts so you do not have to stare at the table all day:
- Trend Day Bull / Bear (score ≥ 5)
- VOLD crossing above/below its SMA (freight train flips)
- ADD/VOLD divergence
- Chop detected (no edge)
These can be tied to popups, sounds, or webhooks so your automation or discretionary workflow can react when internals meaningfully change state.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.