Dual-Phase Exhaustion Signals with Range Pivots and Volume Pressure

Summary

This indicator combines sequential momentum-exhaustion counts, terminal-exhaustion markers, higher-timeframe range pivots, and a volume-pressure oscillator. Its buy-side sequence counts bars closing below the close several bars earlier, while the sell-side sequence counts the opposite condition; a momentum-shift condition initiates the count, and price-extreme checks qualify phases. It can show completed phases or developing sequence steps, along with support, resistance, and invalidation levels derived from phase extremes.

The pivot module calculates support, pivot, and resistance from a selected higher-timeframe range, with an optional developing-range view that updates before that range closes. The oscillator estimates relative buying and selling pressure by weighting directional movement within each bar by volume, then normalizing the result. Alerts can signal phase completion, level crossings, pressure-band crossings, and high volume. These are indicator rules and alerts, not evidence of predictive accuracy; developing readings can update as data forms, and the supplied code includes no backtest or performance analysis.

Key ideas

• Sequential close comparisons create separate buy-side and sell-side momentum-exhaustion counts.
• Price-extreme conditions qualify exhaustion phases, which can produce support, resistance, and invalidation levels.
• Higher-timeframe pivot levels can use completed ranges or a still-developing range.
• The volume-pressure oscillator estimates relative directional pressure from price movement and traded volume.
• The document provides indicator logic and alerts but no evidence of trading performance.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.