OPEN-SOURCE SCRIPT
Edo Sentiment Map
Edo Sentiment Map is a contextual analysis indicator designed to evaluate the internal state of the market based on price behavior, movement intensity and degree of extension.
This indicator does NOT:
• Generate buy or sell signals
• Provide entries or exits
• Predict future price direction
• Automate trading decisions
Its purpose is to describe the current market state, not to indicate what action to take.
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CORE IDEA
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Market movements do not evolve uniformly. There are phases in which price advances in an efficient and balanced manner, and others in which the movement becomes excessive, fragile or vulnerable to behavioral shifts.
Edo Sentiment Map identifies and classifies these movement states using a discrete, clear and easy-to-interpret scale.
The terms used in the indicator (such as fear, greed or buying/selling pressure) are descriptive labels commonly used in financial analysis to describe market conditions. They are not literal measurements of human emotions.
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CALCULATION BASIS (CONCEPTUAL EXPLANATION)
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The indicator is built around an internal continuous score that evaluates how price is moving relative to its recent environment.
At a conceptual level, this score combines:
• Net price displacement relative to a prior reference point
• Movement efficiency by comparing effective progress versus volatility
• Intensity and persistence of recent behavior
• Extension filters that penalize movements excessively far from recent highs or lows
• Contextual smoothing to reduce isolated and unsustainable spikes
The objective is not to forecast future price, but to describe the quality, pressure and stability of the current movement.
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STATE SCALE (-5 TO +5)
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The continuous score is classified into eleven discrete states ranging from -5 to +5.
(+5) Extreme positive extension
(+4) High bullish extension
(+3) Dominant buying pressure
(+2) Stable positive movement
(+1) Weak positive pressure
(0) Neutral or balanced state
(-1) Weak negative pressure
(-2) Increasing downside risk
(-3) Dominant selling pressure
(-4) High bearish extension
(-5) Extreme negative extension
Descriptions such as “Take profits” or “Potential entry” should be interpreted as contextual warnings about possible excess or vulnerability in the movement — not as trading instructions or recommendations.
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VISUAL REPRESENTATION
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The states are applied directly to price candles through a color map:
• Warm colors indicate positive pressure and bullish extension
• Cool colors indicate negative pressure and bearish extension
• Neutral colors indicate balance or indecision
Optional numeric labels and explanatory tooltips can be displayed to support interpretation and historical study.
All visual elements should be interpreted as contextual information, not trading signals.
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OPEN-SOURCE PHILOSOPHY
────────────────────────
This version is published as open-source.
Users are free to:
• Review the internal logic
• Adjust parameters according to their own methodology
• Modify the visual representation
• Integrate the calculation into other tools or research projects
Maintaining the conceptual integrity of the model is recommended to preserve consistent interpretation of market states.
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FINAL NOTE
────────────────────────
Edo Sentiment Map is designed to describe the state of the market at any given moment. It does not automate decisions and does not replace trader judgment.
Its function is to provide structural and visual context regarding movement pressure and extension.
This indicator does NOT:
• Generate buy or sell signals
• Provide entries or exits
• Predict future price direction
• Automate trading decisions
Its purpose is to describe the current market state, not to indicate what action to take.
────────────────────────
CORE IDEA
────────────────────────
Market movements do not evolve uniformly. There are phases in which price advances in an efficient and balanced manner, and others in which the movement becomes excessive, fragile or vulnerable to behavioral shifts.
Edo Sentiment Map identifies and classifies these movement states using a discrete, clear and easy-to-interpret scale.
The terms used in the indicator (such as fear, greed or buying/selling pressure) are descriptive labels commonly used in financial analysis to describe market conditions. They are not literal measurements of human emotions.
────────────────────────
CALCULATION BASIS (CONCEPTUAL EXPLANATION)
────────────────────────
The indicator is built around an internal continuous score that evaluates how price is moving relative to its recent environment.
At a conceptual level, this score combines:
• Net price displacement relative to a prior reference point
• Movement efficiency by comparing effective progress versus volatility
• Intensity and persistence of recent behavior
• Extension filters that penalize movements excessively far from recent highs or lows
• Contextual smoothing to reduce isolated and unsustainable spikes
The objective is not to forecast future price, but to describe the quality, pressure and stability of the current movement.
────────────────────────
STATE SCALE (-5 TO +5)
────────────────────────
The continuous score is classified into eleven discrete states ranging from -5 to +5.
(+5) Extreme positive extension
(+4) High bullish extension
(+3) Dominant buying pressure
(+2) Stable positive movement
(+1) Weak positive pressure
(0) Neutral or balanced state
(-1) Weak negative pressure
(-2) Increasing downside risk
(-3) Dominant selling pressure
(-4) High bearish extension
(-5) Extreme negative extension
Descriptions such as “Take profits” or “Potential entry” should be interpreted as contextual warnings about possible excess or vulnerability in the movement — not as trading instructions or recommendations.
────────────────────────
VISUAL REPRESENTATION
────────────────────────
The states are applied directly to price candles through a color map:
• Warm colors indicate positive pressure and bullish extension
• Cool colors indicate negative pressure and bearish extension
• Neutral colors indicate balance or indecision
Optional numeric labels and explanatory tooltips can be displayed to support interpretation and historical study.
All visual elements should be interpreted as contextual information, not trading signals.
────────────────────────
OPEN-SOURCE PHILOSOPHY
────────────────────────
This version is published as open-source.
Users are free to:
• Review the internal logic
• Adjust parameters according to their own methodology
• Modify the visual representation
• Integrate the calculation into other tools or research projects
Maintaining the conceptual integrity of the model is recommended to preserve consistent interpretation of market states.
────────────────────────
FINAL NOTE
────────────────────────
Edo Sentiment Map is designed to describe the state of the market at any given moment. It does not automate decisions and does not replace trader judgment.
Its function is to provide structural and visual context regarding movement pressure and extension.
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.
EdoLab Markets – Precision Trading Tools
Get Exclusive Indicators:
edolab.io
All content provided is for informational and educational purposes only. Past performance does not guarantee future results.
Get Exclusive Indicators:
edolab.io
All content provided is for informational and educational purposes only. Past performance does not guarantee future results.
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.
EdoLab Markets – Precision Trading Tools
Get Exclusive Indicators:
edolab.io
All content provided is for informational and educational purposes only. Past performance does not guarantee future results.
Get Exclusive Indicators:
edolab.io
All content provided is for informational and educational purposes only. Past performance does not guarantee future results.
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.