מעודכן
RedK Trader Pressure Index Pro (TPX Pro)
█ RedK_TPX Pro — Release Notes
The RedK Trader Pressure Index Pro (RedK_TPX Pro) measures the ongoing contest between buyers (bulls) and sellers (bears) by reading how price bars are formed — and translates that contest into a clear, bounded pressure oscillator.
It answers one practical question: who is currently applying more pressure to price, by how much, relatively, and is either side strong enough to be "dominant" and control the tape?
RedK_TPX Pro is the extended version of the open-source RedK Trader Pressure Index (RedK_TPX), which remains freely available in its original form. The open-source version continues to work exactly as published.
RedK_TPX Pro uses the same underlying pressure-analysis concept and adds a configuration and visualization layer: selectable averaging methods, an adjustable and averaged baseline price range, advanced dominant-pressure logic, optional price-chart Bulls / Bears signals, an optional stepped plot mode, and a set of new alerts.
Also below, we share how RedK_TPX Pro can be used with the new Pine Screener to help scan the market for potential high-quality trade setups.
█ The Idea Behind RedK_TPX Pro
The premise is simple, and deliberately so. Buyers and sellers compete for control of price on every bar. The footprint of that competition is visible in where each new bar's high and low land relative to recent bars.
• When bull pressure is stronger, buyers are able to pull the price range upward — the high and the low of the bar tend to move up relative to the recent range.
• When bear pressure is stronger, sellers push the price range downward — the high and the low tend to move down relative to the recent range.
RedK_TPX Pro uses the change in the bar's high and low, measured against a recent price range, as a proxy for the "pressure" each side is exerting.
Those raw pressure readings are then averaged and normalized so they can be read more consistently across instruments and timeframes.
The result is three plots: bull pressure, bear pressure, and the net of the two — bounded on a 0–100 scale, with net pressure oscillating positive and negative around a zero line.
This ultimately delivers a price-action pressure read. It is not a momentum oscillator, not a moving-average system, and not a trend indicator in the classic sense, though it complements all of those.
RedK_TPX Pro is closest in spirit to the concept behind the classic DMI/ADX: directional pressure and dominance.
█ Main Elements and Calculations
1. The baseline range (the denominator).
The indicator first establishes a recent price range to measure pressure against — the highest high minus the lowest low over the Baseline Price Range (n) bars.
In RedK_TPX Pro, this baseline is then averaged using the selected averaging method over the Length value. This is one of the Pro refinements: averaging the baseline makes the pressure formula more consistent through price action, especially when there are large price jumps and gaps. The Baseline Price Range is user-adjustable from 2 to 20 bars, and defaults to 2 for maximum sensitivity.
2. Bull pressure (Bull Pressure Cloud plot).
The indicator measures how far buyers pushed the range up — the positive part of the change in the high plus the positive part of the change in the low over the baseline period.
That combined upward push is divided by the baseline range and normalized to a 0–100% scale, capped at 100% to prevent gaps from producing runaway values. The result is then averaged over the Length using the selected method.
3. Bear pressure (Bear Pressure Cloud plot).
This is the mirror image of bull pressure — how far sellers pushed the range down, using the negative part of the change in the high and low, divided by the baseline range, normalized to a 0–100% scale, and averaged. Bear pressure is expressed as a positive number so the two pressure clouds can be compared directly on the same scale.
4. Optional pre-smoothing.
Bull and bear pressure can each be pre-smoothed before the net is calculated.This produces cleaner pressure plots and filters noise on choppy charts, at the cost of roughly one bar of additional lag at the default value.
In RedK_TPX Pro, pre-smoothing is on by default. The pre-smoothing pass always uses a WMA, independent of the Averaging Method chosen for the main pressure and baseline series.
5. Net pressure (the main TPX plot).
Net pressure is bull pressure minus bear pressure, then given a final smoothing pass.
When the line is above zero, bulls are the net-dominant side. When it is below zero, bears are.
The line color reflects this. Zero-line crossings are what drive the price-chart signals described below.
6. The Control Level and dominant pressure.
A pressure reading only matters once it is large enough to signify undisputed control.
The Control Level is that threshold. A side is considered dominant when its pressure is at or above the Control Level and is higher than the other side. Typical control thresholds sit in the 25–35 region. The level is user-adjustable.
[Screenshot: make the calculation concrete — show a stretch of chart where a strong directional move produces a tall pressure cloud on one side while the opposite cloud stays flat, so the reader can visually connect "bars pushing one way" to "one cloud dominating."]
█ What’s New in RedK_TPX Pro v6.0
For users familiar with the basic RedK_TPX version, the Pro version adds:
• Selectable averaging method — choose from WMA, SMA, EMA, HMA, or RMA for the pressure and baseline series.
• Adjustable Baseline Range — set the baseline period from 2 to 20 bars.
• Averaged baseline — the baseline range is now averaged, making pressure readings more consistent during price swings.
• Pre-smoothing on by default — smoother default pressure plots; still fully adjustable and can be turned off.
• Firmed-up dominant-pressure logic — a side is flagged dominant only when it exceeds the Control Level and also surpasses the other side.
• Price-chart pressure signals — optional Bulls / Bears triangle markers plotted on the price chart at net-pressure zero crossings.
• Show / hide pressure clouds — the individual bull and bear pressure clouds can be turned off to leave only the Net Pressure line.
• Stepped TPX plot mode — optionally round the Net Pressure line into discrete steps for a simplified read or to pair it with another oscillator.
• Extra directional alerts — separate alerts for net pressure crossing above and below zero, in addition to the combined swing alert.
• Display and formatting refinements — streamlined settings box, more tooltips on inputs, and cleaner data-window values.
█ Settings and User Options
The settings box is organized into three groups: Pressure Calculation, Signals & Visualization, and Price Chart Signals.
1. Pressure Calculation
• Length (default 7, min 1) — lookback length used in the baseline range and bull/bear pressure calculations.
• Smoothing (default 3, min 1) — final smoothing applied to the Net Pressure (TPX) line.
• Averaging Method (default WMA; WMA / SMA / EMA / HMA / RMA) — averaging method used for the baseline range and the pressure calculations.
• Baseline Range (default 2, range 2–20) — number of bars used to compute the base price range. Larger values produce smoother plots but reduce sensitivity to short-term fluctuations. Smaller values make TPX more responsive. Keep the default if you have no specific preference.
• Pre-smoothing? (default On) — extra smoothing applied to bull and bear pressure before they are netted. Helps filter noise in choppy conditions. Always uses WMA.
• Pre-smoothing length (default 3, min 1) — length of the pre-smoothing pass.
2. Signals & Visualization
• Control Level (default 30, range 5–100) — threshold a side must reach to be considered dominant. Whichever side exceeds this level and surpasses the other controls the tape. Plotted as a dashed reference line.
• Pressure Dominance Markers? (default Off) — toggles dominance markers on or off.
• Dominance marker level (default 70, range 0–100, step 5) — level where dominance markers are drawn. This is display-only and does not affect calculations.
• Show Pressure Clouds? (default On) — shows or hides the individual bull and bear pressure clouds.
• Stepping TPX Plot (0 = none)? (default 0, range 0–20, step 5) — rounds the Net Pressure line into discrete steps. A value of 0 plots normally; higher values render it in increments of the selected step.
3. Price Chart Signals
• Price Chart Pressure Signals? (default On) — enables Bulls / Bears markers on the price chart when Net Pressure crosses the zero line.
• Bull Signal / Bear Signal colors — colors used for on-chart Bulls and Bears markers and labels so they can be differentiated easily from other chart signals.
█ Reading the Indicator on the Chart
RedK_TPX Pro draws in its own pane, plus optional markers on the price chart.
In the indicator pane:
• Bull Pressure — a green area cloud showing averaged buying pressure on the 0–100 scale. Can be hidden.
• Bear Pressure — a red area cloud showing averaged selling pressure on the same scale. Can be hidden.
• Net Pressure (TPX line) — the net of the two, colored to reflect which side is net-dominant.
• Zero line — the solid reference; the net line crossing it marks a change in which side is net-dominant.
• Control Level — the dashed reference line; pressure above it signifies dominance.
• Dominance markers (optional) — plotted at the chosen level when a side is dominant, meaning at or above the Control Level and also exceeding the other side.
On the price chart:
• Bulls / Bears markers — a Bulls triangle plots below the bar when Net Pressure crosses above zero; a Bears triangle plots above the bar when it crosses below zero. These mark the moment net pressure changes sides and make it easier to read the pane and price chart together.
This screenshot shows the main TPX plot configured to a longer length and to show as a histogram - provides a different way to visualize the signal. Note how the TPX Signals on the price chart follows the settings of the lower TPX plot
█ The Stepped Plot Mode
Setting Stepping TPX Plot above 0 rounds the Net Pressure line into discrete levels instead of a continuous line.
It serves two purposes:
• A simplified read — the stepped line groups net pressure into bands such as weak, normal, strong, or very strong. Some traders find this easier to scan than a continuously moving line.
• Pairing with another oscillator — the leveled output sits more cleanly alongside a second indicator in the same pane.
For example, choose a step of 10 and TPX will display pressure in bands of 0, 10, 20, 30, and so on.
Note: The stepping affects the plot only. Alerts and the underlying dominance logic always use the true, un-stepped Net Pressure value.
Here's a screenshot showing TPX plot in stepping mode with a value of 20, while the "Show Pressure Clouds?" option is disabled
█ A Suggested Reading Sequence
• Which side owns the tape? Look at the net line relative to zero, and at which pressure cloud is larger.
• Is that control meaningful? Check whether the dominant side is above the Control Level. Pressure below the threshold suggests a contested or low-conviction environment.
• Is interest present at all? When both clouds are low and the net line hugs zero, neither side is exerting much pressure — often a chop or no-interest zone.
• Has control just changed hands? The zero-line crossings, and the on-chart Bulls / Bears markers, flag the transition from one side’s net dominance to the other’s.
Like any other technical indicator, RedK_TPX Pro is designed to be read alongside a trader’s own trend and context tools. A pressure read is most useful when combined with insights provided by other technical analysis methods and research.
█ Alerts
RedK_TPX Pro exposes five alert conditions, set through TradingView’s standard Create Alert dialog. To create a new alert, right-click on any of the indicator plots, and choose the first short menu option "Add alert on RedK_TPX Pro... -- see screenshot below)
These are the 5 available alerts:
• TPX Bulls in Control — fires when bull pressure exceeds both the Control Level and bear pressure.
• TPX Bears in Control — fires when bear pressure exceeds both the Control Level and bull pressure.
• Net Pressure Swing — fires when the Net Pressure line crosses the zero line in either direction.
• Bull Pressure Detected — fires when Net Pressure crosses up through zero.
• Bear Pressure Detected — fires when Net Pressure crosses down through zero.
The Swing alert covers both directions in one condition. The directional Bull/Bear Pressure alerts allow one-sided alert setup.
This screenshot shows the alerts available in RedK_TPX Pro
█ Using RedK_TPX Pro with Pine Screener
This is a scenario where RedK_TPX Pro can save a trader a lot of time, by helping find potential trading setups with strong potential. Combining the signals and alerts from RedK_TPX Pro with the power of TradingView Pine Screener, a trader, for example, can filter any stock lists across markets, or their own watchlists, to find the names where specific "pressure criteria" applies - both to the upside or downside. For example, find names where Bulls have just gained control, or are in dominance - then investigate these screened names for specific set ups.
Follow the steps below to try this scenario and experiment with it as you need.
• Choose Pine Screener from the main Products menu on the TradingView home screen.
• Choose the Symbol source using the dropdown - say we will filter from the NASDAQ 100 list
• Click Add Indicator and search for and load RedK_TPX Pro. The indicator should appear in the "Invite Only" category after you have received access.
• Ensure you set your timeframe to what you intend to use - also open the indicator settings button, and set the various indicator parameters like Length, Averaging Method, .. to what you usually use.
• Leave only the screener headers for the 3 main plots and the 5 alerts; remove all other columns.
• Adjust the screener criteria as needed, then click Screen to refresh the results. for example, in the screenshot below, we show a scan for names in the NASDAQ 100, where the "TPX Pulls in Control" signal has just fired up on the 1D timeframe, which results in a list of 29 names - we can then sort the names by any field as desired.
• You can right-click on individual names to analyze them in your chart, or review their fundamentals - or you can use the Pine Screener menu to export the results to a watchlist or download as CSV.
Here's a screenshot showing the steps above and how to use RedK_TPX Pro with the Pine Screener
=================================================================================
█ Notes on Use and Limitations
• Smoothing is a trade-off. Pre-smoothing and final smoothing both clean up the plots but introduce lag. Faster timeframes may call for less smoothing; higher timeframes or noisier instruments may benefit from more.
• The Baseline Range default is deliberately short. A short baseline makes the indicator more responsive to recent price-range changes. Increasing it produces a slower, steadier read against a wider range.
• Averaging method changes character. WMA and HMA respond faster; SMA, EMA, and RMA behave more conventionally.
• The stepped plot is a display convenience. It does not change the calculation, dominance logic, or alerts.
• This is an insight tool, not a signal service. The markers and alerts describe pressure states and transitions. They are not advice to enter or exit any position, and the indicator does not claim predictive accuracy.
Source availability: the original RedK Trader Pressure Index (RedK_TPX) remains published as open-source. RedK_TPX Pro is an invite-only publication.
==================================================================================
█ Important Notes & Disclaimer
==================================================================================
Requesting access means you have read and agreed to the following.
• Not Advice. This indicator, and other work of this author, represent analytical studies of price and volume behavior. No parts should be considered buy/sell recommendations or signals — “Bulls” and “Bears” describe measured states only. Nothing here is financial, investment, or trading advice.
• Risk & Responsibility. Trading involves substantial risk of loss and is not for everyone. All decisions, interpretation, and risk and money management are yours alone. Past behavior does not predict future results. The author accepts no liability for any loss or consequence arising from use of this tool.
• Indicator Provided As-Is. Feature requests are welcome and can be shared with the author, but whether or when any request is implemented cannot be promised or guaranteed.
The RedK Trader Pressure Index Pro (RedK_TPX Pro) measures the ongoing contest between buyers (bulls) and sellers (bears) by reading how price bars are formed — and translates that contest into a clear, bounded pressure oscillator.
It answers one practical question: who is currently applying more pressure to price, by how much, relatively, and is either side strong enough to be "dominant" and control the tape?
RedK_TPX Pro is the extended version of the open-source RedK Trader Pressure Index (RedK_TPX), which remains freely available in its original form. The open-source version continues to work exactly as published.
RedK_TPX Pro uses the same underlying pressure-analysis concept and adds a configuration and visualization layer: selectable averaging methods, an adjustable and averaged baseline price range, advanced dominant-pressure logic, optional price-chart Bulls / Bears signals, an optional stepped plot mode, and a set of new alerts.
Also below, we share how RedK_TPX Pro can be used with the new Pine Screener to help scan the market for potential high-quality trade setups.
█ The Idea Behind RedK_TPX Pro
The premise is simple, and deliberately so. Buyers and sellers compete for control of price on every bar. The footprint of that competition is visible in where each new bar's high and low land relative to recent bars.
• When bull pressure is stronger, buyers are able to pull the price range upward — the high and the low of the bar tend to move up relative to the recent range.
• When bear pressure is stronger, sellers push the price range downward — the high and the low tend to move down relative to the recent range.
RedK_TPX Pro uses the change in the bar's high and low, measured against a recent price range, as a proxy for the "pressure" each side is exerting.
Those raw pressure readings are then averaged and normalized so they can be read more consistently across instruments and timeframes.
The result is three plots: bull pressure, bear pressure, and the net of the two — bounded on a 0–100 scale, with net pressure oscillating positive and negative around a zero line.
This ultimately delivers a price-action pressure read. It is not a momentum oscillator, not a moving-average system, and not a trend indicator in the classic sense, though it complements all of those.
RedK_TPX Pro is closest in spirit to the concept behind the classic DMI/ADX: directional pressure and dominance.
█ Main Elements and Calculations
1. The baseline range (the denominator).
The indicator first establishes a recent price range to measure pressure against — the highest high minus the lowest low over the Baseline Price Range (n) bars.
In RedK_TPX Pro, this baseline is then averaged using the selected averaging method over the Length value. This is one of the Pro refinements: averaging the baseline makes the pressure formula more consistent through price action, especially when there are large price jumps and gaps. The Baseline Price Range is user-adjustable from 2 to 20 bars, and defaults to 2 for maximum sensitivity.
2. Bull pressure (Bull Pressure Cloud plot).
The indicator measures how far buyers pushed the range up — the positive part of the change in the high plus the positive part of the change in the low over the baseline period.
That combined upward push is divided by the baseline range and normalized to a 0–100% scale, capped at 100% to prevent gaps from producing runaway values. The result is then averaged over the Length using the selected method.
3. Bear pressure (Bear Pressure Cloud plot).
This is the mirror image of bull pressure — how far sellers pushed the range down, using the negative part of the change in the high and low, divided by the baseline range, normalized to a 0–100% scale, and averaged. Bear pressure is expressed as a positive number so the two pressure clouds can be compared directly on the same scale.
4. Optional pre-smoothing.
Bull and bear pressure can each be pre-smoothed before the net is calculated.This produces cleaner pressure plots and filters noise on choppy charts, at the cost of roughly one bar of additional lag at the default value.
In RedK_TPX Pro, pre-smoothing is on by default. The pre-smoothing pass always uses a WMA, independent of the Averaging Method chosen for the main pressure and baseline series.
5. Net pressure (the main TPX plot).
Net pressure is bull pressure minus bear pressure, then given a final smoothing pass.
When the line is above zero, bulls are the net-dominant side. When it is below zero, bears are.
The line color reflects this. Zero-line crossings are what drive the price-chart signals described below.
6. The Control Level and dominant pressure.
A pressure reading only matters once it is large enough to signify undisputed control.
The Control Level is that threshold. A side is considered dominant when its pressure is at or above the Control Level and is higher than the other side. Typical control thresholds sit in the 25–35 region. The level is user-adjustable.
[Screenshot: make the calculation concrete — show a stretch of chart where a strong directional move produces a tall pressure cloud on one side while the opposite cloud stays flat, so the reader can visually connect "bars pushing one way" to "one cloud dominating."]
█ What’s New in RedK_TPX Pro v6.0
For users familiar with the basic RedK_TPX version, the Pro version adds:
• Selectable averaging method — choose from WMA, SMA, EMA, HMA, or RMA for the pressure and baseline series.
• Adjustable Baseline Range — set the baseline period from 2 to 20 bars.
• Averaged baseline — the baseline range is now averaged, making pressure readings more consistent during price swings.
• Pre-smoothing on by default — smoother default pressure plots; still fully adjustable and can be turned off.
• Firmed-up dominant-pressure logic — a side is flagged dominant only when it exceeds the Control Level and also surpasses the other side.
• Price-chart pressure signals — optional Bulls / Bears triangle markers plotted on the price chart at net-pressure zero crossings.
• Show / hide pressure clouds — the individual bull and bear pressure clouds can be turned off to leave only the Net Pressure line.
• Stepped TPX plot mode — optionally round the Net Pressure line into discrete steps for a simplified read or to pair it with another oscillator.
• Extra directional alerts — separate alerts for net pressure crossing above and below zero, in addition to the combined swing alert.
• Display and formatting refinements — streamlined settings box, more tooltips on inputs, and cleaner data-window values.
█ Settings and User Options
The settings box is organized into three groups: Pressure Calculation, Signals & Visualization, and Price Chart Signals.
1. Pressure Calculation
• Length (default 7, min 1) — lookback length used in the baseline range and bull/bear pressure calculations.
• Smoothing (default 3, min 1) — final smoothing applied to the Net Pressure (TPX) line.
• Averaging Method (default WMA; WMA / SMA / EMA / HMA / RMA) — averaging method used for the baseline range and the pressure calculations.
• Baseline Range (default 2, range 2–20) — number of bars used to compute the base price range. Larger values produce smoother plots but reduce sensitivity to short-term fluctuations. Smaller values make TPX more responsive. Keep the default if you have no specific preference.
• Pre-smoothing? (default On) — extra smoothing applied to bull and bear pressure before they are netted. Helps filter noise in choppy conditions. Always uses WMA.
• Pre-smoothing length (default 3, min 1) — length of the pre-smoothing pass.
2. Signals & Visualization
• Control Level (default 30, range 5–100) — threshold a side must reach to be considered dominant. Whichever side exceeds this level and surpasses the other controls the tape. Plotted as a dashed reference line.
• Pressure Dominance Markers? (default Off) — toggles dominance markers on or off.
• Dominance marker level (default 70, range 0–100, step 5) — level where dominance markers are drawn. This is display-only and does not affect calculations.
• Show Pressure Clouds? (default On) — shows or hides the individual bull and bear pressure clouds.
• Stepping TPX Plot (0 = none)? (default 0, range 0–20, step 5) — rounds the Net Pressure line into discrete steps. A value of 0 plots normally; higher values render it in increments of the selected step.
3. Price Chart Signals
• Price Chart Pressure Signals? (default On) — enables Bulls / Bears markers on the price chart when Net Pressure crosses the zero line.
• Bull Signal / Bear Signal colors — colors used for on-chart Bulls and Bears markers and labels so they can be differentiated easily from other chart signals.
█ Reading the Indicator on the Chart
RedK_TPX Pro draws in its own pane, plus optional markers on the price chart.
In the indicator pane:
• Bull Pressure — a green area cloud showing averaged buying pressure on the 0–100 scale. Can be hidden.
• Bear Pressure — a red area cloud showing averaged selling pressure on the same scale. Can be hidden.
• Net Pressure (TPX line) — the net of the two, colored to reflect which side is net-dominant.
• Zero line — the solid reference; the net line crossing it marks a change in which side is net-dominant.
• Control Level — the dashed reference line; pressure above it signifies dominance.
• Dominance markers (optional) — plotted at the chosen level when a side is dominant, meaning at or above the Control Level and also exceeding the other side.
On the price chart:
• Bulls / Bears markers — a Bulls triangle plots below the bar when Net Pressure crosses above zero; a Bears triangle plots above the bar when it crosses below zero. These mark the moment net pressure changes sides and make it easier to read the pane and price chart together.
This screenshot shows the main TPX plot configured to a longer length and to show as a histogram - provides a different way to visualize the signal. Note how the TPX Signals on the price chart follows the settings of the lower TPX plot
█ The Stepped Plot Mode
Setting Stepping TPX Plot above 0 rounds the Net Pressure line into discrete levels instead of a continuous line.
It serves two purposes:
• A simplified read — the stepped line groups net pressure into bands such as weak, normal, strong, or very strong. Some traders find this easier to scan than a continuously moving line.
• Pairing with another oscillator — the leveled output sits more cleanly alongside a second indicator in the same pane.
For example, choose a step of 10 and TPX will display pressure in bands of 0, 10, 20, 30, and so on.
Note: The stepping affects the plot only. Alerts and the underlying dominance logic always use the true, un-stepped Net Pressure value.
Here's a screenshot showing TPX plot in stepping mode with a value of 20, while the "Show Pressure Clouds?" option is disabled
█ A Suggested Reading Sequence
• Which side owns the tape? Look at the net line relative to zero, and at which pressure cloud is larger.
• Is that control meaningful? Check whether the dominant side is above the Control Level. Pressure below the threshold suggests a contested or low-conviction environment.
• Is interest present at all? When both clouds are low and the net line hugs zero, neither side is exerting much pressure — often a chop or no-interest zone.
• Has control just changed hands? The zero-line crossings, and the on-chart Bulls / Bears markers, flag the transition from one side’s net dominance to the other’s.
Like any other technical indicator, RedK_TPX Pro is designed to be read alongside a trader’s own trend and context tools. A pressure read is most useful when combined with insights provided by other technical analysis methods and research.
█ Alerts
RedK_TPX Pro exposes five alert conditions, set through TradingView’s standard Create Alert dialog. To create a new alert, right-click on any of the indicator plots, and choose the first short menu option "Add alert on RedK_TPX Pro... -- see screenshot below)
These are the 5 available alerts:
• TPX Bulls in Control — fires when bull pressure exceeds both the Control Level and bear pressure.
• TPX Bears in Control — fires when bear pressure exceeds both the Control Level and bull pressure.
• Net Pressure Swing — fires when the Net Pressure line crosses the zero line in either direction.
• Bull Pressure Detected — fires when Net Pressure crosses up through zero.
• Bear Pressure Detected — fires when Net Pressure crosses down through zero.
The Swing alert covers both directions in one condition. The directional Bull/Bear Pressure alerts allow one-sided alert setup.
This screenshot shows the alerts available in RedK_TPX Pro
█ Using RedK_TPX Pro with Pine Screener
This is a scenario where RedK_TPX Pro can save a trader a lot of time, by helping find potential trading setups with strong potential. Combining the signals and alerts from RedK_TPX Pro with the power of TradingView Pine Screener, a trader, for example, can filter any stock lists across markets, or their own watchlists, to find the names where specific "pressure criteria" applies - both to the upside or downside. For example, find names where Bulls have just gained control, or are in dominance - then investigate these screened names for specific set ups.
Follow the steps below to try this scenario and experiment with it as you need.
• Choose Pine Screener from the main Products menu on the TradingView home screen.
• Choose the Symbol source using the dropdown - say we will filter from the NASDAQ 100 list
• Click Add Indicator and search for and load RedK_TPX Pro. The indicator should appear in the "Invite Only" category after you have received access.
• Ensure you set your timeframe to what you intend to use - also open the indicator settings button, and set the various indicator parameters like Length, Averaging Method, .. to what you usually use.
• Leave only the screener headers for the 3 main plots and the 5 alerts; remove all other columns.
• Adjust the screener criteria as needed, then click Screen to refresh the results. for example, in the screenshot below, we show a scan for names in the NASDAQ 100, where the "TPX Pulls in Control" signal has just fired up on the 1D timeframe, which results in a list of 29 names - we can then sort the names by any field as desired.
• You can right-click on individual names to analyze them in your chart, or review their fundamentals - or you can use the Pine Screener menu to export the results to a watchlist or download as CSV.
Here's a screenshot showing the steps above and how to use RedK_TPX Pro with the Pine Screener
=================================================================================
█ Notes on Use and Limitations
• Smoothing is a trade-off. Pre-smoothing and final smoothing both clean up the plots but introduce lag. Faster timeframes may call for less smoothing; higher timeframes or noisier instruments may benefit from more.
• The Baseline Range default is deliberately short. A short baseline makes the indicator more responsive to recent price-range changes. Increasing it produces a slower, steadier read against a wider range.
• Averaging method changes character. WMA and HMA respond faster; SMA, EMA, and RMA behave more conventionally.
• The stepped plot is a display convenience. It does not change the calculation, dominance logic, or alerts.
• This is an insight tool, not a signal service. The markers and alerts describe pressure states and transitions. They are not advice to enter or exit any position, and the indicator does not claim predictive accuracy.
Source availability: the original RedK Trader Pressure Index (RedK_TPX) remains published as open-source. RedK_TPX Pro is an invite-only publication.
==================================================================================
█ Important Notes & Disclaimer
==================================================================================
Requesting access means you have read and agreed to the following.
• Not Advice. This indicator, and other work of this author, represent analytical studies of price and volume behavior. No parts should be considered buy/sell recommendations or signals — “Bulls” and “Bears” describe measured states only. Nothing here is financial, investment, or trading advice.
• Risk & Responsibility. Trading involves substantial risk of loss and is not for everyone. All decisions, interpretation, and risk and money management are yours alone. Past behavior does not predict future results. The author accepts no liability for any loss or consequence arising from use of this tool.
• Indicator Provided As-Is. Feature requests are welcome and can be shared with the author, but whether or when any request is implemented cannot be promised or guaranteed.
הערות שחרור
RedK_TPX Pro v6.1 Release Notes:* This version introduces subtle UI improvement and further clean-up of user settings.
הערות שחרור
- Subtle visual change - Updating the indictor access request to new combined form
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האינדיקטור הזה זמין רק למנויי The RedKTrader Pro Toolbox. הצטרף כדי לקבל גישה לזה ולסקריפטים נוספים של RedKTrader.
"Understand the market. Trade your way."
TA Research & Coaching.
Pro tools on classic TA: EVEREX · VADER · TPX · VARSI · CoRA WAve
Tri-View MTF system & TACT Coaching Series
▸Follow on X: @RedKTrader
▸RedKTrader.com/
TA Research & Coaching.
Pro tools on classic TA: EVEREX · VADER · TPX · VARSI · CoRA WAve
Tri-View MTF system & TACT Coaching Series
▸Follow on X: @RedKTrader
▸RedKTrader.com/
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.
זמין במרחב בתשלום
האינדיקטור הזה זמין רק למנויי The RedKTrader Pro Toolbox. הצטרף כדי לקבל גישה לזה ולסקריפטים נוספים של RedKTrader.
"Understand the market. Trade your way."
TA Research & Coaching.
Pro tools on classic TA: EVEREX · VADER · TPX · VARSI · CoRA WAve
Tri-View MTF system & TACT Coaching Series
▸Follow on X: @RedKTrader
▸RedKTrader.com/
TA Research & Coaching.
Pro tools on classic TA: EVEREX · VADER · TPX · VARSI · CoRA WAve
Tri-View MTF system & TACT Coaching Series
▸Follow on X: @RedKTrader
▸RedKTrader.com/
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.