OPEN-SOURCE SCRIPT
MHIDa Volume-Dry Pullback
MHIDa Volume-Dry Pullback is a context tool for reading pullbacks (dips) inside an uptrend where volume has dried up.
WHAT IT DOES
It flags bars where three conditions line up: (1) price is above a longer EMA (the uptrend gate), (2) price has pulled back below a shorter EMA mean while RSI is below a configurable "dip" threshold, and (3) current volume is below a fraction of its own moving average (volume has "dried up"). Optionally it also requires the current close to be higher than the previous close (a turn-up confirmation).
WHY VOLUME AND PRICE ARE READ TOGETHER
A pullback that happens on light volume usually carries less selling conviction than a pullback on heavy volume. Reading the two together (price structure + volume) gives more context than price alone. The indicator combines a trend/mean-reversion read (EMA gate, EMA mean, RSI) with a volume-average read in one tool because they qualify the same event from two different angles: one measures distance/momentum, the other measures how much the crowd participated in the move.
HOW IT IS CALCULATED
- EMA-gate: an exponential moving average (default length 50) used only to define the uptrend (close above it).
- EMA mean: a shorter exponential moving average (default length 20) used as the pullback reference (close below it = a dip).
- RSI (default length 14): the dip counts as "stretched" when RSI is below a configurable threshold (default 45).
- Volume average: a simple moving average of volume (default length 20). Volume is "dried up" when it drops below a configurable fraction of that average (default 0.7).
- Everything is read on closed bars only, no lookahead.
HOW TO USE IT
A lime triangle below the bar marks a bar where all conditions line up (uptrend + dip + dry volume, optionally + turn-up). Bars that are just "dip + dry volume" (without the full condition set) are also lightly shaded in gray as a softer visual cue. Use the highlighted areas as context to support your own reading of the chart, not as a buy signal. All inputs are adjustable in the settings, and the defaults are a starting point, not an optimized setup: tune them to the symbol and timeframe you are watching.
This is a context and educational tool. It is not a signal, not financial advice, and not a standalone trading system. Always do your own analysis and make your own decisions.
WHAT IT DOES
It flags bars where three conditions line up: (1) price is above a longer EMA (the uptrend gate), (2) price has pulled back below a shorter EMA mean while RSI is below a configurable "dip" threshold, and (3) current volume is below a fraction of its own moving average (volume has "dried up"). Optionally it also requires the current close to be higher than the previous close (a turn-up confirmation).
WHY VOLUME AND PRICE ARE READ TOGETHER
A pullback that happens on light volume usually carries less selling conviction than a pullback on heavy volume. Reading the two together (price structure + volume) gives more context than price alone. The indicator combines a trend/mean-reversion read (EMA gate, EMA mean, RSI) with a volume-average read in one tool because they qualify the same event from two different angles: one measures distance/momentum, the other measures how much the crowd participated in the move.
HOW IT IS CALCULATED
- EMA-gate: an exponential moving average (default length 50) used only to define the uptrend (close above it).
- EMA mean: a shorter exponential moving average (default length 20) used as the pullback reference (close below it = a dip).
- RSI (default length 14): the dip counts as "stretched" when RSI is below a configurable threshold (default 45).
- Volume average: a simple moving average of volume (default length 20). Volume is "dried up" when it drops below a configurable fraction of that average (default 0.7).
- Everything is read on closed bars only, no lookahead.
HOW TO USE IT
A lime triangle below the bar marks a bar where all conditions line up (uptrend + dip + dry volume, optionally + turn-up). Bars that are just "dip + dry volume" (without the full condition set) are also lightly shaded in gray as a softer visual cue. Use the highlighted areas as context to support your own reading of the chart, not as a buy signal. All inputs are adjustable in the settings, and the defaults are a starting point, not an optimized setup: tune them to the symbol and timeframe you are watching.
This is a context and educational tool. It is not a signal, not financial advice, and not a standalone trading system. Always do your own analysis and make your own decisions.
Skrypt open-source
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Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.
Skrypt open-source
W zgodzie z duchem TradingView twórca tego skryptu udostępnił go jako open-source, aby użytkownicy mogli przejrzeć i zweryfikować jego działanie. Ukłony dla autora. Korzystanie jest bezpłatne, jednak ponowna publikacja kodu podlega naszym Zasadom serwisu.
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.