OPEN-SOURCE SCRIPT
Pressure Signals
How it works — it combines 4 pressure sources into a 0–100 buy score:
Volume delta (40%) — buy vs sell volume
Order book imbalance (30%) — bid depth vs ask depth
Price momentum (15%) — recent % change
RSI (15%) — overbought/oversold context
Signal rules:
BUY when buy score ≥ 65, RSI < 70, and volume delta positive
SELL when sell score ≥ 65, RSI > 30, and volume delta negative
HOLD otherwise
It also outputs suggested stop loss (2%) and take profit (4%) levels, plus reasoning for each signal.
Volume delta (40%) — buy vs sell volume
Order book imbalance (30%) — bid depth vs ask depth
Price momentum (15%) — recent % change
RSI (15%) — overbought/oversold context
Signal rules:
BUY when buy score ≥ 65, RSI < 70, and volume delta positive
SELL when sell score ≥ 65, RSI > 30, and volume delta negative
HOLD otherwise
It also outputs suggested stop loss (2%) and take profit (4%) levels, plus reasoning for each signal.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.