OPEN-SOURCE SCRIPT
NY Session Conviction Dashboard
Overview
The NY Session Conviction Dashboard is a comprehensive market-state engine designed specifically for intraday futures traders (ES/NQ) executing during the New York session. Rather than generating lagging, automated buy/sell signals, this tool functions as a professional tape-reading companion. It provides a real-time, statistical framework to assess institutional conviction, market efficiency, and volume participation when price tests critical structural levels like Prior Day High/Low (PDH/PDL), Overnight High/Low (ONH/ONL), and Session VWAP.
By applying a Wyckoff-inspired Effort vs. Result model, the script evaluates whether current order flow supports a structural breakout/continuation or a structural fading/rejection.
Core Architecture & Components
1. Intraday Effort (Market Internals Engine)
Dual Index VOLD Ratios: Tracks institutional volume deployment by calculating the dynamic ratio of advancing vs. declining volume for both the NYSE (USI:UVOL/USI:DVOL) and NASDAQ (USI:UVOLQ/USI:DVOLQ).
NYSE TICK Integration: Samples centralized order flow momentum to confirm whether sudden price spikes are supported by broad market buying/selling.
2. Intraday Result (Structural Efficiency & Pressure)
Kaufman-Driven Adaptive KAMA: Uses an Efficiency Ratio (ER) lookback to dynamically adjust its smoothing factor. It remains flat during erratic, noisy balance areas and turns sharply directional when true algorithmic expansion occurs.
Session VWAP with ER Stabilization: Resets precisely at the NY Open (0930 EST). Features a unique initial-hour "Stabilization Event Box" based on Early Session efficiency to protect against choppy opening balancing behaviors.
Candle Pressure Index (CPI): Measures the precision of close location relative to a bar's total range, filtered through an ATR noise gate to eliminate low-liquidity anomalies.
3. Institutional Absorption Detection
Plots discrete, real-time exhaustion markers (X) directly on the chart when high-effort internal signatures (VOLD extremes/TICK spikes) fail to yield a directional result—classically signaling institutional absorption or passive resting liquidity behavior.
Understanding the Tape Reading States
The dashboard dynamically computes and displays the mathematical harmony between broad market internals and current price action, classifying the market into distinct behavioral regimes:
BULL ALIGN / BEAR ALIGN (Golden State): Full harmony. Internals, Volume Ratios, TICK, CPI, and Trend Efficiency are aligned aggressively in one direction. High-conviction expansion.
BULL DIV / BEAR DIV (Price Divergence): Price is flat or declining, but broad market internals are heavily positive (or vice-versa). Often leads to a sudden catch-up expansion or rotational reversal.
BULL ABSORB / BEAR ABSORB: High internal volume effort is actively hitting the market, but the price trend efficiency is exceptionally low (ER < 0.30). This points to major passive limit orders blocking further progression.
LEAD DIV (Leadership Divergence): NYSE and NASDAQ volume structures are actively opposing one another, indicating a split, rotation-heavy market profile.
How to Use This Tool
This indicator is built for discretionary execution support.
Identify Your Levels Manually: Map out your key price boundaries (PDH, PDL, Daily VWAP, or high-volume nodes).
Watch the Test: As price approaches a level, look down at the Tape Dashboard.
Verify Conviction: * A breakout past PDH accompanied by a BULL ALIGN state implies high-probability continuation.
A test of PDH accompanied by a BEAR ABSORB or BEAR DIV state indicates a structural failure, offering a high-probability mean-reversion setup back to VWAP.
The NY Session Conviction Dashboard is a comprehensive market-state engine designed specifically for intraday futures traders (ES/NQ) executing during the New York session. Rather than generating lagging, automated buy/sell signals, this tool functions as a professional tape-reading companion. It provides a real-time, statistical framework to assess institutional conviction, market efficiency, and volume participation when price tests critical structural levels like Prior Day High/Low (PDH/PDL), Overnight High/Low (ONH/ONL), and Session VWAP.
By applying a Wyckoff-inspired Effort vs. Result model, the script evaluates whether current order flow supports a structural breakout/continuation or a structural fading/rejection.
Core Architecture & Components
1. Intraday Effort (Market Internals Engine)
Dual Index VOLD Ratios: Tracks institutional volume deployment by calculating the dynamic ratio of advancing vs. declining volume for both the NYSE (USI:UVOL/USI:DVOL) and NASDAQ (USI:UVOLQ/USI:DVOLQ).
NYSE TICK Integration: Samples centralized order flow momentum to confirm whether sudden price spikes are supported by broad market buying/selling.
2. Intraday Result (Structural Efficiency & Pressure)
Kaufman-Driven Adaptive KAMA: Uses an Efficiency Ratio (ER) lookback to dynamically adjust its smoothing factor. It remains flat during erratic, noisy balance areas and turns sharply directional when true algorithmic expansion occurs.
Session VWAP with ER Stabilization: Resets precisely at the NY Open (0930 EST). Features a unique initial-hour "Stabilization Event Box" based on Early Session efficiency to protect against choppy opening balancing behaviors.
Candle Pressure Index (CPI): Measures the precision of close location relative to a bar's total range, filtered through an ATR noise gate to eliminate low-liquidity anomalies.
3. Institutional Absorption Detection
Plots discrete, real-time exhaustion markers (X) directly on the chart when high-effort internal signatures (VOLD extremes/TICK spikes) fail to yield a directional result—classically signaling institutional absorption or passive resting liquidity behavior.
Understanding the Tape Reading States
The dashboard dynamically computes and displays the mathematical harmony between broad market internals and current price action, classifying the market into distinct behavioral regimes:
BULL ALIGN / BEAR ALIGN (Golden State): Full harmony. Internals, Volume Ratios, TICK, CPI, and Trend Efficiency are aligned aggressively in one direction. High-conviction expansion.
BULL DIV / BEAR DIV (Price Divergence): Price is flat or declining, but broad market internals are heavily positive (or vice-versa). Often leads to a sudden catch-up expansion or rotational reversal.
BULL ABSORB / BEAR ABSORB: High internal volume effort is actively hitting the market, but the price trend efficiency is exceptionally low (ER < 0.30). This points to major passive limit orders blocking further progression.
LEAD DIV (Leadership Divergence): NYSE and NASDAQ volume structures are actively opposing one another, indicating a split, rotation-heavy market profile.
How to Use This Tool
This indicator is built for discretionary execution support.
Identify Your Levels Manually: Map out your key price boundaries (PDH, PDL, Daily VWAP, or high-volume nodes).
Watch the Test: As price approaches a level, look down at the Tape Dashboard.
Verify Conviction: * A breakout past PDH accompanied by a BULL ALIGN state implies high-probability continuation.
A test of PDH accompanied by a BEAR ABSORB or BEAR DIV state indicates a structural failure, offering a high-probability mean-reversion setup back to VWAP.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.